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economic systsems

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  • In a strict communist economy, who decides how many new video game consoles will be built this year?
    The people who buy video games
    The government
    Private tech companies like Sony or Microsoft
    The workers in the factory
  • a country where the government owns hospitals and the train system, but you are still allowed to own a small bussiness
    Pure Capitalism
    Communism
    Socialism
    A Traditional Economy
  • What is a major problem that has happened in heavily controlled communist countries in the past?
    Everyone became a billionaire
    Businesses competed too much
    Store shelves were often empty, and it was hard to get basic things
    People had too many choices of what to buy at the store
  • If a government decides to take over all the businesses in the country, make everyone's salary exactly the equitable...
    Communist system
    Republic
    Free Market system
    Capitalist system
  • Which of the following is an economic choice you get to make because you live in a free market?
    Being forced to buy your clothes from only one state-owned store
    the government to tell you what your career will be when you grow up
    Comparing prices to find the best deal on a new pair of sneakers
    Giving all your
  • What does "economic freedom" mean?
    When the government gives you a free house
    Getting all your groceries for free
    The rule that you don't have to pay for video games
    The freedom to choose your own job, start a business, and buy what you want
  • Why do capitalist countries usually have so many cool new inventions (like better smartphones every year)?
    The government forces scientists to invent them
    Because taxes pay for all new phones
    Businesses compete with each other to make the best products
    Because it is illegal to use old technology
  • In which economic system do regular people and private businesses own most of the property and make the decisions?
    Capitalism (Free Market)
    A Command Economy
    Socialism
    Communism
  • Which system gives people the HIGHEST amount of economic freedom?
    Socialism
    Communism
    A Command Economy
    Capitalism (The Free Market)
  • In class, we talked about "standard of living." What does that mean?
    How comfortable your life is and how much stuff you are able to buy
    The grades you get in middle school
    How many rules the government makes you follow
    How tall you are required to build your house
  • Which economic system gives the government the MOST control, ?
    Capitalism
    The Free Market
    Socialism
    Communism
  • You start a lawn-mowing business. You buy the mower, find your customers, and keep all the money you earn. This is an e
    Government control
    Communism
    Capitalism (The Free Market)
    A Command Economy
  • What is a big goal of socialism?
    To make sure the rich get richer
    making things fairer by giving everyone free healthcare or college
    To let businesses do whatever they want with zero rule
    To make sure no one is allowed to own anything
  • In a capitalist system like the United States, what is the main reason someone works hard to start a new business?
    To make sure everyone else gets free stuff
    To make a profit (earn money)
    Because they want to pay more taxes
    Because the president told them to
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