Understanding Economic Systems and Political Factors Quiz
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which economic system involves the government owning and controlling the means of production?

  • Socialism
  • Capitalism
  • Communism (correct)
  • Global economy

    • What economic system is characterized by private property and prices determining production?

  • Socialism
  • Capitalism (correct)
  • Communism
  • Global economy

    • What term is used to describe the study of the relationship between a nation's politics and its economy?

  • Economic analysis
  • Global economy
  • Economic politics
  • Political economy (correct)

    • Which economist is associated with the theory of capitalism and the 'invisible hand'?

    <p>Adam Smith</p> Signup and view all the answers

    What term is used to describe the study of the relationship between a nation's politics and its economy?

    <p>Political economy</p> Signup and view all the answers

    What type of economy involves the majority of resources being owned and controlled by the government?

    <p>Command economy</p> Signup and view all the answers

    Which economist is associated with the theory of capitalism and the 'invisible hand'?

    <p>Adam Smith</p> Signup and view all the answers

    What type of economy involves the majority of resources being owned and controlled by the government?

    <p>Communism</p> Signup and view all the answers

    Which economic system is characterized by private property and prices determining production?

    <p>Capitalism</p> Signup and view all the answers

    What term is used to describe the economic system where the government owns and controls some, but not all, of the means of production?

    <p>Mixed economy</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser