Economic Systems  3.15 - 2025 Quiz

Economic Systems 3.15 - 2025 Quiz

1st Grade - University

15 Qs

quiz-placeholder

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Economic Systems  3.15 - 2025 Quiz

Economic Systems 3.15 - 2025 Quiz

Assessment

Quiz

Arts

1st Grade - University

Hard

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system allows individuals to own businesses, set their own prices, and compete freely for customers?

Communism

Capitalism

Socialism

Government-Controlled Economy

2.

MATCH QUESTION

30 sec • 1 pt

Match the following descriptions with the type of economy they describe.

Free market economy

Private businesses compete to sell goods and services

Welfare state

The government controls all production and prices

Command economy

The government provides free education and healthcare

State-controlled economy

Only government-approved businesses are allowed to operate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which individual is most likely to thrive in a capitalist system?

Elon Musk (CEO of Tesla & SpaceX)

Karl Marx (Philosopher and Economist)

Che Guevara (Revolutionary Figure)

Joseph Stalin (Historical Soviet Leader)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tony Stark (Iron Man) is the CEO of Stark Industries, a company known for its innovative and high-tech products. Which economic system supports the operation of such privately-owned businesses?

Communism

Socialism

Capitalism

Feudalism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What motivates businesses in a capitalist economy to continually enhance their products?

To receive accolades from the government

To stay competitive and increase profits

To raise prices for consumers

Due to government mandates

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the movie Black Panther, Wakanda has exclusive control over the world's supply of Vibranium. How would you classify this economic system?

Capitalism

Socialism

Communism

Free Market

7.

DRAG AND DROP QUESTION

30 sec • 1 pt

In Country Z, the government provides free healthcare, college, and public services. This system is called (a)   .

Socialism

Capitalism

Communism

Fascism

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