
Econ
Interactive Video
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Medium
Allan Daum
Used 1+ times
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three fundamental questions that every society must answer to determine its economic system?
What will we produce, how will we produce it, and who gets it?
What will we consume, how will we consume it, and who pays for it?
What will we import, how will we export it, and who profits from it?
What will we invent, how will we patent it, and who benefits from it?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Karl Marx, what is the single sentence that sums up the theory of communism?
Distribution of wealth based on individual effort.
Abolition of private property.
Government control of all industries.
Free and equal access to all resources.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free market or capitalist economy, who primarily owns the factors of production?
The government
Individuals
A bureaucratic agency
A collective of workers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a necessary role for the government in a free market economy?
Controlling all aspects of production and distribution.
Ensuring that all citizens have identical incomes.
Maintaining the rule of law and providing public goods.
Dictating consumer preferences and tastes.
5.
MULTIPLE CHOICE QUESTION
30 sec • Ungraded
Are you enjoying the video lesson?
Yes
No
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of economy is characterized by production being entirely controlled by the government?
Free Market Economy
Mixed Economy
Command Economy
Socialist Market Economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the circular flow model, how do households primarily earn money?
By buying goods and services from businesses.
By selling resources like labor to businesses.
By receiving transfer payments from the government.
By producing goods and services themselves.
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