
Economic Systems Quiz

Interactive Video
•
Social Studies
•
9th - 10th Grade
•
Hard
Nancy Jackson
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a characteristic of capitalism?
State control of major enterprises
Private choice in investments
Free market competition
Private ownership of capital goods
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of a socialist economic system?
Private ownership of all resources
Government ownership of strategic enterprises
Unregulated market competition
Minimal government intervention
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a mixed economy, what role does the government play?
Complete control over all economic activities
No role at all
Intervenes to achieve social goals
Only regulates private businesses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of capitalism?
Equal wealth distribution
High levels of regulation
Government-managed production
Incentivizes private sector growth
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of capitalism?
Promotes social welfare
Ensures equitable resource distribution
Leads to income inequality
Encourages innovation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does socialism aim to narrow the class gap?
By promoting private entrepreneurship
By encouraging monopolies
Through equal wealth distribution
By reducing government spending
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential downside of socialism?
Minimal government spending
Excessive competition
Lack of social safety nets
High tax burden
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