Section 2 Test Part 2: Question Preview (ID: 13281)


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Command economies and Market economies determine what to produce from the people’s needs.
a) True
b)
c)
d) False

In a command economy, trade decisions are made by _________________.
a) the individuals in the society
b) factory owners
c) the government
d) One class of people

What is a tarrif?
a) tax imposed on goods
b)
c) money collected when you buy something at the grocery store
d) trading with others

The way a society organizes the production and consumption of goods and services is its _______________.
a) Trade economy
b) Economic System
c) Communism
d) Socialism

The top two buget categories are National Defense and Health.
a) True
b)
c)
d) False

Socialism only allowed/ allows workers to earn enough to stay alive according to Marx.
a) True
b)
c)
d) False

Higher tax rates for the rich over the poor were done under the _____________________ function of government.
a) Redistribute income
b) Maintain Competition
c) Stabilize the economy
d) Correcting for externalities

What function of government assists with the unemployment rate?
a) Legal and social framework
b) Provide public goods and services
c) Maintain competition
d) Stabilize the economy

The four basic economic systems are the command, market, mixed, and socialist economies.
a) True
b)
c)
d) False

Karl Marx wrote, “ The Communist Manifesto.”
a) True
b)
c)
d) False

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