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WorksheetsMicroeconomics - Chapter II (Economic Systems)
Total questions: 10
Worksheet time: 6mins
It is the system of an economy to solve its basic economic problem.
Production System
Distribution System
Market System
Economic System
Identify the one that does not belongs to the group.
Capitalism
Communism
Socialism
Mixed Economy
The main motive of capitalist system is __________.
Profit
Welfare
Economic Stability
Economic Equality
Which of the following is not a feature of capitalism?
Private ownership
Freedom
Profit motive
Absence of competition
In Germany, because of the economic system of the country, rich becomes richer and poor becomes poorer. Determine, which among the following describes this situation of Germany?
Economic welfare
Economic stability
Economic freedom
Economic inequality
In socialist economic system, the prices of goods and services are determined by __________.
Individuals
Government
Market forces
Demand and supply
Which of the following makes the socialist system inefficient?
Absence of Technology
Absence of competition
Absence of Monopoly
All of the options
Existence of public and private sector is featured by __________.
Capitalist economic system
Socialist economic system
Mixed economic system
None of the options
Which of the following is a feature of mixed economy?
Co-existence of public and private sectors
Profit motive and social interest blended
Planning to control the economy
All of the options
In Thailand, government actions and market forces together guide the economic activities. Prices of goods and services are determined by the government and private sector. Determine, what type of an economic system Thailand is having?
Socialist economic system
Planned economic system
Mixed economic system
Capitalist economic system
