Capitalism and socialism
Quiz by Sarah Ayyad
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12 questions
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- Q1Which economic system emphasizes private ownership and free markets?FeudalismCapitalismSocialismCommunism30s
- Q2What is a key characteristic of socialism?Complete free marketEmphasis on individual wealthLimited government interventionCollective ownership of resources30s
- Q3In which economic system does the government typically play a major role in regulating the economy?CapitalismSocialismLibertarianismAnarchism30s
- Q4Which of the following is a potential benefit of capitalism?Guaranteed equal incomeUniversal healthcare for allInnovation driven by competitionCentralized control of the economy30s
- Q5What is the main goal of socialism in economic terms?To promote global tradeTo reduce economic inequalityTo maximize profit for ownersTo encourage individualism30s
- Q6Which economic theory argues that the means of production should be owned and controlled by the community?CapitalismMonetarismSocialismMarxism30s
- Q7What is a criticism often directed at capitalism?It requires government ownership of businessesIt can lead to significant wealth inequalityIt guarantees employment for everyoneIt eliminates all competition30s
- Q8What term describes the economic system where resources are shared and wealth is distributed to achieve equality?SocialismLaissez-faireCapitalismMercantilism30s
- Q9Which economic system typically fosters consumer choice through competition?CollectivismCapitalismSocialismFeudalism30s
- Q10What is a primary goal of both capitalism and socialism?To eliminate all taxesTo improve the standard of livingTo centralize all economic powerTo promote class struggle30s
- Q11What is a key characteristic of capitalism?Central planning of the economyPrivate ownership of resourcesEqual distribution of wealthGovernment ownership of resources30s
- Q12In a capitalist economy, how are prices typically determined?Equal distribution of goodsGovernment regulationSupply and demandFixed pricing by authorities30s