Economic system - 4 - Planned economic sytem

Economic system - 4 - Planned economic sytem

12th Grade

13 Qs

quiz-placeholder

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Economic system - 4 - Planned economic sytem

Economic system - 4 - Planned economic sytem

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

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13 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

An economic system involving the role of government is called...

Market economic system

Planned economic system

Mixed-economic system

Free market economic system

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Below is the disadvantage of a planned economic system

Products quality are often poor

Harmful goods might be produced

Some firms may dominate the market

Goods and services are produced to what is profitable

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Below is the advantage of a planned economic system

Wide variety of products

Development of new method of production

More equal treat for hired labor

Frequent innovation of goods and services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Refuse collection and welfare service are examples of..

Government monopoly program

Government law and regulation

Market failure condition

Merit goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Below is an advantage of having government intervention in the economic system..

Goods and services are allocated to people who can purchase it

Environment and people are more protected from harmful goods

No tax, which means more profit

Consumer may gain better quality of products

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the use of laws and regulations?

Pick three options

To protect consumer

To protect employees

To protect environment

To protect goods and services

To protect government's investors

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following is not the advantage of government intervention?

The government may produce public goods

The government may create more jobs opportunity

The government may avoid or correct any market failure

The government may produce better quality of goods and services

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