WorksheetsEconomic Systems
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
The government owns some major industries like railroads and uses democratic methods to distribute wealth more equitably. Which economic system is this?
a)
socialism
b)
capitalism
c)
traditional
d)
communist
2.
Which of the following would happen only in a communist economy?
a)
A.The government promotes competition
b)
The government provides incentives for innovation
c)
The government emphasizes the production of consumer goods
d)
The government controls all business activities
3.
True or False: An economic system explains how a society makes and sells products.
a)
True
b)
False
4.
Eugene Debs was a...
a)
capitalist
b)
socialist
c)
communist
5.
Karl Marx's ideas inspired
a)
free market economies
b)
democracies
c)
technological innovation
d)
dictatorships
6.
The United States practices
a)
pure capitalism
b)
pure socialism
c)
pure communism
d)
mixed market
7.
Adam Smith argued that wealthy nations...
a)
regulate business so everyone is equally wealthy
b)
allow businesses to rise/fall on their own merits
c)
have everyone share the means of production
d)
give businesses financial support from the government
8.
This economic system has the MOST government control...
a)
capitalism
b)
mixed market
c)
communism
d)
socialism
9.
This economic system has the LEAST government control...
a)
socialism
b)
mixed market
c)
communism
d)
capitalism
10.
Which of the following is NOT a positive aspect of capitalist economies?
a)
allows for economic growth
b)
opens opportunities for social mobility
c)
offers protections for individuals
d)
businesses rise and fall on their own merits
11.
What's the difference between communism and socialism?
a)
socialism allows some private ownership of property
b)
communism allows some private ownership of property
c)
socialism expects the government to control the means of production
d)
communism expects the people to share the means of production
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