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Types of economic systems (traditional, communism, mixed, capitalism )

Quiz by Katheryn Lofstedt

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10 questions
Show answers
  • Q1
    Which economic system is characterized by private ownership of resources and competition?
    capitalism
    communism
    mixed
    traditional
    30s
  • Q2
    In which economic system does the government control all resources and means of production?
    mixed
    communism
    capitalism
    traditional
    30s
  • Q3
    Which economic system relies on customs, traditions, and barter?
    mixed
    communism
    traditional
    capitalism
    30s
  • Q4
    Which economic system blends ideas from both command and market economies?
    communism
    capitalism
    traditional
    mixed
    30s
  • Q5
    Which economic system is based only on supply and demand?
    traditional
    mixed
    communism
    capitalism
    30s
  • Q6
    Which economic system advocates for the equal distribution of wealth and resources?
    communism
    mixed
    traditional
    capitalism
    30s
  • Q7
    Following World War II, this country had a communist revolution and remains a communist country today
    China
    India
    Russia
    England
    30s
  • Q8
    Most countries fall into this category on the economic spectrum
    Command/ Communist
    Traditional
    Market/Capitalism
    Mixed/Socialism
    30s
  • Q9
    This type of economic system has lots of opportunities for innovation but can be unsafe without any laws about what or how can be produced
    Command/ Communism
    Traditional
    Mixed/Socialism
    Market/Capitalism
    30s
  • Q10
    This type of economic system attempts to make everyone equal but does not allows few individual choices or freedoms
    Market/Socialism
    Market/Capitalism
    Traditional
    Command/ Communism
    30s

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