Types of economic systems (traditional, communism, mixed, capitalism )
Quiz by Katheryn Lofstedt
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10 questions
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- Q1Which economic system is characterized by private ownership of resources and competition?capitalismcommunismmixedtraditional30s
- Q2In which economic system does the government control all resources and means of production?mixedcommunismcapitalismtraditional30s
- Q3Which economic system relies on customs, traditions, and barter?mixedcommunismtraditionalcapitalism30s
- Q4Which economic system blends ideas from both command and market economies?communismcapitalismtraditionalmixed30s
- Q5Which economic system is based only on supply and demand?traditionalmixedcommunismcapitalism30s
- Q6Which economic system advocates for the equal distribution of wealth and resources?communismmixedtraditionalcapitalism30s
- Q7Following World War II, this country had a communist revolution and remains a communist country todayChinaIndiaRussiaEngland30s
- Q8Most countries fall into this category on the economic spectrumCommand/ CommunistTraditionalMarket/CapitalismMixed/Socialism30s
- Q9This type of economic system has lots of opportunities for innovation but can be unsafe without any laws about what or how can be producedCommand/ CommunismTraditionalMixed/SocialismMarket/Capitalism30s
- Q10This type of economic system attempts to make everyone equal but does not allows few individual choices or freedomsMarket/SocialismMarket/CapitalismTraditionalCommand/ Communism30s