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Economic Systems Quiz 20 (25 MCQs)

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1. _____ get to make the economic decisions under capitalism.
2. Private ownership of property is encouraged by which of the following economic systems?
3. Government takes care of people's needs while the market takes care of their wants in this economic system.
4. This economic system is described as "The Get Rich Way"
5. Buyers and sellers make the financial decisions
6. Which of the following is a service?
7. A major problem for individuals and private businesses in a socialist command economy is:
8. Communism is a type of _____
9. In which economic system does the government have the most control over economic resources?
10. How is business capital different from economic capital?
11. Communism is based on which of the following?
12. This country employs a command economy with elements of free enterprise:
13. Type of economy that is based on trading and bartering
14. What is a disadvantage of the economic system in the previous question?
15. The more money a company can charge for a good or service, the _____ goods or services that company will want to produce or supply.
16. Which of the following is a natural resource used to produce a hamburger?
17. The type of economic system a country has is based on:
18. Which of the following is NOT one of the 4 economic goals & societal values:
19. The type of economic system the United States has.
20. What major trade route connected Europe and Asia?
21. In a socialist economic system, the government-
22. In reality, this economy does not exist in a pure form:
23. When there is very little left of a product or service it is called _____
24. Government owns part of the means of production
25. An disadvantage of this economic system is:that leaders of this type of economy usually provide for themselves at the expense of the general population.
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