WorksheetsGovernment/Economics Exam
Total questions: 36
Worksheet time: 20mins
the fairness with which an economy distributes its resources and wealth
Communism
Economic equity
Mixed Economy
Capitalism
a society’s way of coordinating the production and consumption of goods and services
Human capital
Mixed economy
Command economy
Economic System
an economic system in which decisions about production and consumption are based on custom and tradition
Socialist economy
Traditional Economy
Command economy
Mixed economy
an economic system in which decisions about production and consumption are made by a powerful ruler or government
Mixed economy
Free Market Economy
Command economy
Democratic economy
an economic system in which economic decisions are left up to individual producers and consumers
Market economy
Command economy
Mixed economy
Monopolistic economy
income earned when an individual sells or rents a factor of production that he or she owns
Flow capital
Factor payment
Human Capital
Credit payment
an economic system in which both the government and individuals play important roles in production and consumption
Mixed society
Democratic society
Mixed economy
Command economy
an economic system in which the means of production are mostly privately owned and operated for profit
Free enterprise system
Mixed enterprise system
Command system
Capital system
Which is not one of the three basic economic questions?
For whom will it be produced
What will be produced
How will it be produced
Why will it be produced
Which is not one of the seven economic goals of a society
Economic security
Economic losses
Economic growth
Economic freedom
The ability to make our own economic decisions without interference from the government is called
Economic growth
Economic stability
Economic freedom
Economic loss
in nations that value economic freedom and efficiency you will find
Free Market Enterprise
Traditional economies
Mixed economies
Social free markets
are highly efficient at producing goods and services that people want and are willing to pay for
Social economies
Market Economies
Mixed economies
Command economies
It shows how money, goods, and resources move through a market economy.
Capital model
Command model
Flow Model
Behavioral modal
When Adam Smith wrote about "the invisible hand," he was referring to the power of
Supply and demand issues
goods and services at prices people will not pay.
Human Capital investment
goods and services at prices people will pay.
Which economic goals are emphasized in a modern command economy?
economic efficiency and freedom
economic security and equity
economic stability and growth
economic stability and security
One of the most free economies in the world is
Portugal
Spain
France
Australia
Individuals own the factors of production and make decisions about how to use those factors in
A communist society
an unfree mixed economy.
a free enterprise system.
a command economy.
Why is competition important to a free enterprise system?
It limits the number of sellers in the market.
It results in more choices for consumers.
It results in higher costs to producers.
It raises prices in the marketplace.
The most significant driving force of the free enterprise system is
Factor payments
the circular flow model.
The profit motive
The investor motive
Imagine you're in a world where one person holds all the power. What would you call this type of government?
Autocracy
Democracy
Oligarchy
Theocracy
Imagine you're in a world where the political power is in the hands of the people. What would you call this system of government?
Autocracy
Democracy
Oligarchy
Theocracy
Imagine you're in a community where everyone gathers to make decisions and laws. And guess what? Everyone gets a vote! How cool is that?
Direct Democracy
Representative Democracy
Imagine you're in a kingdom where the king or queen's power is not absolute, but is limited by a constitution and a parliament. What would you call this type of monarchy?
Absolute Monarchy
Constitutional Monarchy
Power is shared between national and local governments
Confederation
Unitary
Federal
The United States of America has a Direct Democracy.
True
False
Imagine you're a superhero in a world where governments have superpowers. Which system would have all the key powers concentrated in the hands of the central government?
A confederate government where each state has its own superpower
A federal government where power is shared between central and state governments
A unitary government where the central government holds all the superpowers
A parliamentary government where the prime minister is the most powerful superhero
Imagine you're a citizen in a country where you get to choose representatives through free and fair elections, and these representatives make decisions on your behalf. What form of government is this?
Representative Democracy
Federalism
Unitary System
Direct Democracy
Imagine you've landed in a world ruled by a dictator! What would you expect to see around you?
Government controls most aspects of life.
Religious beliefs are supported by the government.
The government is considered a servant of ordinary citizens.
Citizens can publicly speak out against their ruler's policy
Imagine you're in a country where citizens often have no rights. What type of government is this likely to be?
Democracy
Dictatorship
Power is shared by the central and regional government.
Unitary
Federal
Democracy
Confederation
Imagine you're in a world where the law-making body (also known as the legislature) gets to pick the leader. Can you guess what type of democracy this is?
presidential
republic
dictatorship
parliamentary
Can you guess which country still enjoys the charm of a constitutional monarchy?
United States
Great Britain
Israel
Saudi Arabia
