Economic Systems and Their Characteristics

Economic Systems and Their Characteristics

Assessment

Interactive Video

Social Studies

9th - 10th Grade

Hard

Created by

Patricia Brown

FREE Resource

The video explores the evolution of economic systems from early trade to modern capitalism and socialism. It discusses the impact of agriculture, industrialization, and the development of money on societies. The video also examines current economic challenges and encourages viewers to consider how these affect today's labor force.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of an economy in society?

To optimize resources to meet needs and wants

To create social hierarchies

To provide entertainment

To establish political systems

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What marked the beginning of the first true economies?

The invention of the wheel

The creation of written language

The development of agriculture and domestication of animals

The discovery of fire

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why was bartering considered inefficient?

It was too complex to understand

It did not involve any form of currency

It was only used by small groups

It required a double coincidence of wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a significant outcome of the industrial revolution?

The end of agricultural practices

A decrease in global trade

The rise of hunter-gatherer societies

The modernization of societies and economies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector is primarily involved in producing raw materials?

Quaternary sector

Tertiary sector

Primary sector

Secondary sector

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key characteristic of capitalism?

Collective ownership of property

Government control of all industries

Private ownership and profit pursuit

Equal distribution of wealth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is characterized by government control of the economy?

Mercantilism

Capitalism

Feudalism

Socialism

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