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Social Studies
9th -
12thgrade
Economic Systems and Macroeconomics: Crash Course Economics
10 questions
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- 1. Multiple Choice
What three things do we, as a social order, need to figure out?
What will we produce?
How many of us are there?
How will we produce it?
Who gets it?
How much does it cost?
- 2. Multiple Choice
What are two type of economies discussed in the video?
communist economies
planned economies
socialist economies
market economies
- 3. Multiple Choice
What are the factors of production (the major inputs required to produce stuff)?
capital
labor
land
businesses
- 4. Multiple Choice
Who controls the factors of production in a planned economy?
government
classes
individuals
oligarchs
- 5. Multiple Choice
In a _______ economy, the government completely controls everything about the economy
command
controlled
efficient
invasive
- 6. Multiple Choice
Who owns the factors of production in a free market, or capitalist, economy?
individuals
government
classes
oligarchs
- 7. Multiple Choice
The concept of the "invisible hand" only applies to a very small part of the free market.
False
True
- 8. Multiple Choice
The free market can't produce everything we need as a society, so the government still has a role to play (like providing police officers and bridges.)
True
False
- 9. Multiple Choice
The United States has a _____ economy.
mixed
free
command
unregulated
- 10. Multiple Choice
The "circular flow model" involves the _____ market and the _____ resource market.
product
resource
free
command
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