Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Economic Systems Review
Test Description: Regents Review
Instructions: Answer all questions to get your test result.
1) Which social scientists focus their studies on scarcity, resources, and profit motives?
A
historians
B
sociologists
C
economists
D
archaeologists
2) Which course of action does the theory of laissez-faire suggest a government should follow?
A
controlling the mineral resources of a country
B
establishing businesses to create jobs
C
providing help for people in need
D
letting natural laws regulate the economy
3) Which topic is central to the study of economics?
A
tracking the development and spread of diseases
B
understanding the causes of ethnic rivalries
C
studying the growth and role of political parties
D
examining the distribution and use of limited resources
4) Capitalism is to private ownership as communism is to
A
supply and demand
B
laissez-faire
C
self-determination
D
state control
5) Which type of economic system relies primarily on hunting, gathering, herding, and farming to maintain self-sufficiency?
A
capitalism
B
mixed
C
command
D
traditional
6) The policy of establishing colonies to gain wealth by controlling colonial trade is called
A
communism
B
fascism
C
mercantilism
D
socialism
7) Which revolution led to the concept of banking, the creation of guilds, and the development of capitalism in Europe?
A
Agricultural
B
Scientific
C
Industrial
D
Commercial
8) Which statement is supported by the ideas of Karl Marx?
A
Private ownership of businesses helps workers.
B
Industrialization benefits the wealthy and exploits the poor.
C
Industrial capitalism allows workers and employers to work together for a common purpose.
D
Countries should benefit from the wealth of their colonies.
9) In the European feudal system under manorialism, what is the most significant economic commodity?
A
land
B
sugar and spices
C
livestock
D
gold and silver
10) In an ideal market economy, the answer to the question “What shall be produced?” would be determined primarily by
A
consumers
B
bankers
C
retailers
D
governments
11) According to Thomas Malthus, the rate of increase for human populations in relation to the rate of increase for food production was a problem. Malthus believed that
A
countries with larger populations would conquer countries with smaller populations
B
food production would increase at a faster rate than populations would
C
industrial development would severely limit population growth
D
famine and war were natural checks on population growth
12) In which economic system used by early civilizations are decisions about the distribution of goods based primarily on customs, beliefs, and habits?
A
traditional
B
command
C
free-market
D
mixed
13) Which statement best describes an aspect of a command economy?
A
Supply and demand regulate the economy.
B
Tradition, religion, and customs heavily influence economic decisions.
C
Profit motivates individuals to set up private businesses.
D
Government directs and controls the means of production.
14) Which is a necessity for both capitalist and socialist economic systems?
A
using resources to satisfy wants
B
centralizing national economic planning
C
providing for government control of all industries
D
assuring the growth of big business
15) Which is true of an economy operating under a free market system?
A
Prices change according to changes in the supply of and demand for products.
B
Major industries are controlled by the government, but smaller businesses may be privately owned.
C
The government fixes the prices of products.
D
Prices are fixed by agreements among business leaders.
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?