Economic Systems and Forms of Government

Which economic system provides the most economic freedom and provides a higher standard of living?

• Socialism

• Capitalism

• Totalitarian

• Communism

A representative democracy is when the government_____________

• is led by a strong leader that takes over by force.

• provides citizens with the right to vote on all issues.

• provides citizens with property based on family status.

• is led by elected officials that reflect the ideas of citizens.

Which is an outcome of this type of economic system?

• Many people enjoy economic freedom and high standards of living.

• Living standards increase when a country falls behind in its use of technology.

• People are helped by the government, which provides many free public services.

• Government leaders take over all farms and industries to provide greater equality.

What is one advantage of the American Constitutional Republic?

• Its national government has unlimited power over its citizens.

• Power is placed in a single person without any checks and balances.

• The local government has final authority over the national government.

• The conduct of government officials and citizens must align with the rule of law.

The list displays characteristics of a form of government. - Led by religious leaders - No separation of church and state - Government claims to be divinely blessed Which form of government is best described by the list?

• Oligarchy

• Theocracy

• Monarchy

• Constitutional Republic

Which statement identifies an advantage of capitalism over government-controlled economic systems in raising standards of living?

• Profit helps to produce and develop new technologies.

• Central planners identify where economic needs are greatest.

• Government leaders punish critics who challenge economic policies.

• Workers have no reason to work hard since their jobs are guaranteed.

Which statement best describes a socialist economy?

• Private businesses provide all goods and services.

• Taxes are low, but government services are extremely limited.

• The government owns several basic industries and provides many services at no cost.

• Private property is abolished and all goods and services are provided to citizens by the government.

Unlike some countries where a single leader holds all the power, the United States divides power among different branches of government. Which principle of a constitutional republic is being described?

• federalism

• limited government

• separation of powers

• consent of the governed

The government of the country controls all means of production. There is no private ownership of property. Which economic system is being described?

• Socialism

• Capitalism

• Free market

• Communism

The country has a strong focus on social welfare. The government directly owns and operates some key industries, like healthcare and education. These services are provided for all citizens and are paid for by higher taxes. Which economic system best describes the country?

• Socialism

• Capitalism

• Free market

• Communism