Meet people's needs. Every society must develop a system for making decisions as to how it will use its resources to meet the needs and wants of the people. The system must answer the three basic economic questions of what will be produced, how it will be produced, and who will consume it. Having a system does not minimize the risk of decision-making or prevent problems from developing. Controlling production would not be a goal in every society.
Standard 2 Indicator 2.4 LAP 15

Quiz
•
Social Studies
•
12th Grade
•
Hard
Natalie Coronas
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A. Oslo
B. Rome
C. Agra
D. Paris
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a private enterprise system, businesses and individuals own or control the economic resources. All citizens play a role in determining what will be produced, how it will be produced, and who will consume it. These decisions are not controlled by government agencies, influential citizens, entrepreneurs, or producers.
A. Oslo
B. Rome
C. Agra
D. Paris
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People can buy anything they can afford that can legally be sold. The marketplace is any place where buying and/or selling of products takes place. People can buy anything that can legally be sold-as long as they have the money for it. In a private enterprise system, the markets are self-regulated and self-controlled. The government's role is limited. Owning things of value and deciding how to use those things are characteristics of private property. Freedom in the marketplace does not ensure that businesses will use resources efficiently.
A. Oslo
B. Rome
C. Agra
D. Paris
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Private property is anything of value that people own. It can be business or personal property. Other examples of private property include land, jewelry, buildings, and clothing. Economic resources are the human and natural resources and capital goods used to produce goods and services. Capital goods are manufactured or constructed items that are used to produce goods and services. Equal distribution of goods and services is not possible, even in economic systems set up for that purpose.
A. Oslo
B. Rome
C. Agra
D. Paris
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When people are free to own things that they value, they tend to save and invest. Individuals and businesses benefit because they are free to decide how to use their private property and when and how to sell it. Society benefits because people pay taxes on their savings and investment income, and this provides the money needed to pay for public services, such as schools and highway construction. Our own choices limit us. If we choose to buy one thing, we may not have enough money to buy another. Freedom to own private property does not ensure cooperation among businesses. Although people in a private enterprise system have a great deal of economic freedom, they aren't allowed to do anything they want to do.
A. Oslo
B. Rome
C. Agra
D. Paris
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The private enterprise system in the United States is not a pure private enterprise system because there is limited government control. The government's primary purpose is to protect its citizens. However, the role of government has expanded as life has become more complex. The government acts as a referee and ensures that individuals and businesses play by the rules.
A. Oslo
B. Rome
C. Agra
D. Paris
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the United States, the government should step in only to protect citizens, and it should let them pursue their own goals. As life has become more complex, the role of government has gradually expanded. The government has been asked to solve such problems as inflation, pollution, health care, and unemployment. It does not, however, try to increase production, limit business startups, or maintain control of prices except in what are considered emergency situations.
A. Oslo
B. Rome
C. Agra
D. Paris
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