
Foundations of the US Economic System

Interactive Video
•
English
•
6th - 10th Grade
•
Hard
+7
Standards-aligned

Emma Peterson
FREE Resource
Standards-aligned
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for an economic system where transactions are free from government intervention?
Laissez-faire capitalism
Communism
Socialism
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is known for the concept of the 'invisible hand' in economics?
Adam Smith
George Washington
Bobby
Alexander Hamilton
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main idea behind Adam Smith's 'invisible hand' concept?
Competition should be eliminated.
Businesses should focus on helping others to succeed.
Individuals pursuing their own interests unintentionally benefit society.
Government should control all businesses.
Tags
CCSS.RI. 9-10.2
CCSS.RI.6.2
CCSS.RI.7.2
CCSS.RL.8.2
CCSS.RL.9-10.2
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for an economic system where private businesses compete with minimal government regulation?
Socialism
Free enterprise
Communism
Monopoly
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example of Bobby and Susie's lemonade stands, why does Susie have an advantage?
She sells lemonade at a higher price.
She has lower costs for her lemonade.
She has more customers.
She has better marketing.
Tags
CCSS.RL.5.3
CCSS.RL.6.3
CCSS.RL.7.3
CCSS.RL.8.3
CCSS.RL.9-10.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a monopoly?
A market with no competition.
A single company dominating the market, excluding others.
A market with many small competitors.
A group of companies working together to dominate the market.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Sherman Antitrust Act of 1890 primarily concerned with?
Regulating international trade.
Promoting monopolies.
Encouraging government control of businesses.
Preventing monopolies.
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