Economic Systems Quiz

Economic Systems Quiz

Assessment

Interactive Video

Social Studies

9th - 10th Grade

Hard

Created by

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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