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<p><b>New page</b></p><div>The following is a quiz on Economic Systems such as traditional economy, barter, manorialism, mercantilism, capitalism, communism, command economy, laissez faire capitalism, and mixed economy. <br />
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Take this quiz as often as you would like and print out a successful quiz for extra credit. <br />
{{#professor:Quiz #18b - Economic Systems (10 Questions)}}<br />
<br />
<quiz shuffle=none><br />
<br />
{<br />
A major result of the Industrial Revolution in Western Europe was that<br />
|type="[]"}<br />
+the middle class increased in number and in power<br />
-the population in cities declined<br />
-traditional attitudes and values were strengthened<br />
-mercantilism replaced capitalism as the dominant economic system<br />
<br />
{<br />
Since the collapse of the Soviet Union in the early 1990s, Russia has attempted to build an economic system based on<br />
|type="[]"}<br />
-a return to feudalism<br />
-the ideas of Marx and Lenin<br />
-the writings of Mao Zedong<br />
+a free-market system<br />
<br />
{<br />
Which statement best explains China's economic shift toward capitalism in the 1980s and early 1990s?<br />
|type="[]"}<br />
-China's economic policies were directly influenced by the success of the Soviet economic system.<br />
-The Tiananmen Square massacre resulted in major economic reforms in China.<br />
-The success of the Cultural Revolution resulted in the increased westernization of China.<br />
+communist economic policies were not meeting the needs of the society.<br />
<br />
{<br />
One reason for the collapse of the Communist economic system in Eastern Europe during the early 1990s was that this system<br />
|type="[]"}<br />
+lacked adequate incentives to maintain high productivity<br />
-used the principles of mercantilism<br />
-encouraged laissez-faire practices and policies<br />
-relied on the outdated law of supply and demand<br />
<br />
{<br />
Which economic system existed in Europe during the early Middle Ages?<br />
|type="[]"}<br />
-free market<br />
-socialism<br />
+manorialism<br />
-command<br />
<br />
{<br />
The purpose of colonies is to ship raw materials to the colonial power and buy finished goods from the colonial power.<br />
<br />
This statement reflects the basic idea of which economic system?<br />
|type="[]"}<br />
-socialism<br />
-communism<br />
+mercantilism<br />
-capitalism<br />
<br />
{<br />
In a traditional economic system, which type of goods is most often produced?<br />
|type="[]"}<br />
+agricultural products<br />
-heavy industrial machinery<br />
-military supplies<br />
-electronics and computers<br />
<br />
{<br />
Which type of economic system was used by both Joseph Stalin and Mao Zedong to accelerate the economic growth of their respective nations?<br />
|type="[]"}<br />
-mixed<br />
-market<br />
+command<br />
-traditional<br />
<br />
{<br />
Base your answer to the following question on the statements below and on your knowledge of social studies.<br />
<br />
Statement A: The might of a country consists of gaining surpluses of gold and silver.<br />
<br />
Statement B: A nation's strength is found in economic independence and the maintenance of a favorable balance of trade.<br />
<br />
Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured goods.<br />
<br />
Which economic system is being described by these statements?<br />
|type="[]"}<br />
-traditional<br />
-feudalism<br />
-command<br />
+mercantilisn<br />
<br />
{<br />
_____________________________________________________________<br />
<br />
*Reunification of East and West Germany<br />
*Restructuring of the economy of the former Soviet Union<br />
*Eastern Europe's extensive political changes<br />
_____________________________________________________________<br />
<br />
Which is a valid conclusion that can be drawn from a study of these events of the late 1980s and early 1990s?<br />
|type="[]"}<br />
-The former Soviet Union succeeded in isolating its satellites from Western influences.<br />
-The United Nations forced Communist leaders to accept changes.<br />
-Communist leaders used new strategies to win the cold war.<br />
+Communism did not succeed as a workable political and economic system in Europe.<br />
<br />
</quiz><br />
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