
Economic Systems and Globalization Quiz
Authored by Erin Hogan
Social Studies
12th Grade
Used 1+ times

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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The United States runs on capitalism, which can also be called __________________________.
Free Enterprise
Socialism
Communism
Barter System
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A(n) __________________________ is defined by how a society answers the three basic economic questions.
Economic System
Political System
Social Structure
Cultural Norm
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system that is based on customs, skills, and cultural beliefs is called a(n) __________________________ economy.
Traditional
Market
Command
Mixed
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________________________ wrote The Wealth of Nations and believed that self-interest causes people to work hard and take risks, which benefits society.
Adam Smith
John Maynard Keynes
Karl Marx
David Ricardo
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When individuals, businesses, and governments in any part of the world are affected by events elsewhere in the world, it is called __________________________.
Globalization
Isolation
Nationalization
Localization
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________________________ refers to any work done for a company by people other than the company’s employees.
Outsourcing
Insourcing
Freelancing
Consulting
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Work done for a company by people who live in other countries is called __________________________.
Offshoring
Outsourcing
Telecommuting
Freelancing
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