Chapter 2 Test: Economic Systems

Chapter 2 Test: Economic Systems

9th Grade

22 Qs

quiz-placeholder

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Chapter 2 Test: Economic Systems

Chapter 2 Test: Economic Systems

Assessment

Quiz

Social Studies

9th Grade

Practice Problem

Hard

Created by

Ross Kelley

Used 8+ times

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22 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The way a society uses scarce resources to satisfy its people’s unlimited wants is called an economic

system

utility

incentive

grid

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Absolute loyalty to the people in power is required by a(n)

traditional system

socialist system

authoritarian system

market system

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Between 1867 and 1894, Karl Marx published a 3-volume study called

The Communist Manifesto

Capital

The Wealth of Nations

Laissez Faire

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The government owns some, but not all, factors of production in a(n)

authoritarian system

communist system

pure market system

socialist system

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

In economic terms, property means

everything an individual owns and the labor he/she provides

everything an individual owns but not the labor he/she provides

some things an individual owns and the labor he/she provides

some things an individual owns but not the labor he/she provides

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

With voluntary exchange, a buyer and seller agree to do business together

only for the benefit of the seller

only for the benefit of the buyer

for the mutual benefit of both

for the benefit of neither

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

In a market economy, the real power in the market place is held by the

producer

seller

government

consumer

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