#1
Which of the following is a characteristic of a command economy?
Private ownership of means of production
Government control over economic activities
Market-driven allocation of resources
Decentralized decision-making
#2
In a parliamentary system of government, who is the head of state?
President
Prime Minister
Monarch
Chancellor
#3
What is the primary function of the World Trade Organization (WTO)?
Maintaining global peace
Promoting economic development
Facilitating international trade negotiations
Providing humanitarian aid
#4
In a unitary system of government, where does the ultimate authority reside?
Local governments
Regional governments
Central government
Citizens' assemblies
#5
Which economic theory emphasizes minimizing government intervention and promoting free markets?
Keynesian economics
Monetarism
Neoliberalism
Social democracy
#6
Who is considered the father of modern economics?
Karl Marx
John Maynard Keynes
Adam Smith
Milton Friedman
#7
What is a key feature of a mixed economy?
Centralized economic planning
Private ownership of production
Absence of government intervention
Community-based resource allocation
#8
What is a key characteristic of a federal system of government?
Strong central government
Unitary structure
Division of powers between central and regional governments
Single-tiered administration
#9
Who developed the concept of the Iron Law of Oligarchy?
Max Weber
Vilfredo Pareto
Karl Marx
John Locke
#10
Which political ideology emphasizes the importance of individual freedom and limited government intervention?
Liberalism
Fascism
Socialism
Totalitarianism
#11
In a market economy, how are prices typically determined?
Government regulations
Centralized planning
Supply and demand forces
Random allocation
#12
In political science, what does the term 'regime' refer to?
A form of government
A set of rules for elections
A type of economic system
A specific political party
#13
Which economic system emphasizes collective ownership and control of the means of production?
Capitalism
Socialism
Communism
Feudalism
#14
What is the primary focus of political economy as an academic discipline?
Political theory
International relations
Study of political and economic systems
Comparative government
#15
Which economic system is characterized by private ownership and a free market with minimal government intervention?
Socialism
Capitalism
Communism
Feudalism
#16
What is the main objective of a political party?
Economic development
Power and governance
Cultural preservation
Environmental sustainability
#17
Who is known for the theory of 'creative destruction' in the field of economics?
John Maynard Keynes
Joseph Schumpeter
Milton Friedman
Adam Smith