Capitalism

Capitalism

8th Grade

15 Qs

quiz-placeholder

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Capitalism

Capitalism

Assessment

Quiz

Social Studies

8th Grade

Hard

Created by

John Robinson

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The United States is considered a ________economy.

communist

socialist

capitalist

all the answers are correct

2.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the cons of capitalisim? Choose all the correct answers.

Capitalism can lead to an unfair distribution of wealth with a few people holding a significant amount of the money.

Capitalism can lead to unsafe work conditions and unfair wages for the working class.

Capitalism can create powerful monopolies where one company can control pricing and supply without government intervention.

In a capitalist economy, people and companies are rewarded for innovation. This leads to greater technological advances.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An important characteristic of capitalism is private _____

thoughts

property

chat rooms

cooks

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Another name for capitalism is

communism.

socialism.

the free-market system. 

All the answers are correct

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a free market system?

People can decide what products to buy and how much they want to pay

The market is free to work itself out without government intervention.

​Businesses can decide what products to make and how much to sell them for. 

All the answers are correct

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The idea of the free-market system was first introduced this Scottish economist in 1776.

John Smith

John Adams

Adam Smith

Adam Sandler

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Today, many countries have a capitalist economy, but the government takes an active role in stabilizing the economy and providing regulations to protect the public. 

True

False

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