Podcast
Questions and Answers
Which economic system is characterized by private ownership of the means of production, free-market competition, and minimal government intervention in economic affairs?
Which economic system is characterized by private ownership of the means of production, free-market competition, and minimal government intervention in economic affairs?
- Capitalism (correct)
- Socialism
- Globalization
- Mixed Economies
In which economic system are the means of production owned or controlled by the state or society as a whole?
In which economic system are the means of production owned or controlled by the state or society as a whole?
- Capitalism
- Mixed Economies
- Globalization
- Socialism (correct)
Which type of economic system incorporates elements of both capitalism and socialism?
Which type of economic system incorporates elements of both capitalism and socialism?
- Socialism
- Mixed Economies (correct)
- Globalization
- Capitalism
What does globalization refer to?
What does globalization refer to?
What are some benefits of globalization?
What are some benefits of globalization?
Which of the following is NOT a trade barrier?
Which of the following is NOT a trade barrier?
Which organization controls the money supply and sets interest rates in the United States?
Which organization controls the money supply and sets interest rates in the United States?
What is the principle that countries should specialize in producing goods and services they can produce most efficiently, and trade with others to obtain what they cannot produce efficiently?
What is the principle that countries should specialize in producing goods and services they can produce most efficiently, and trade with others to obtain what they cannot produce efficiently?
Which of the following is an example of a regional trade agreement?
Which of the following is an example of a regional trade agreement?
What are some challenges of globalization?
What are some challenges of globalization?
