Economic Systems Quiz

Which economic system is characterized by private ownership of the means of production and minimal government intervention?

• Free Enterprise

• Socialism

• Communism

• Mercantilism

Which country is often cited as an example of a free enterprise system in recent history?

• United States

• Soviet Union

• Cuba

• China

In a communist system, what is the primary goal of the economy?

• Wealth accumulation by private individuals

• Class struggle and revolution

• Equality and shared ownership of resources

• Economic competition

Which economic system places a strong emphasis on the redistribution of wealth and social welfare programs?

• Socialism

• Laissez-faire capitalism

• Feudalism

• Fascism

In a free enterprise economy, businesses can

• choose what types of goods and services they want to produce

• produce only what the government allows them to sell

• price items where the government instructs them

• Sell what they want, but have to give all of the money to the government