#1
Which economic system relies heavily on government intervention?
Capitalism
Socialism
Communism
Laissez-faire capitalism
#2
What is the primary goal of government intervention in economic systems?
To maximize profits for businesses
To minimize consumer choices
To ensure economic stability and equity
To promote monopolies
#3
Which economic system advocates for collective ownership of the means of production and central planning?
Capitalism
Socialism
Fascism
Anarchism
#4
What is the primary role of regulatory agencies in a market economy?
To promote monopolies
To ensure fair competition and protect consumers
To eliminate all government intervention
To manipulate interest rates
#5
In a command economy, who typically makes decisions regarding resource allocation and production?
Consumers
Government authorities
Private businesses
Market forces
#6
What is the term used to describe the situation where a market fails to allocate resources efficiently?
Market equilibrium
Market failure
Market distortion
Market intervention
#7
Which of the following is an example of government intervention in the economy?
Imposing tariffs on imports
Privatizing public services
Implementing laissez-faire policies
Deregulating financial markets
#8
In a mixed economy, how does the government intervene?
By controlling all means of production
By implementing socialist policies
By regulating certain aspects while allowing market forces to operate
By completely abstaining from economic affairs
#9
Which of the following is NOT a form of government intervention in the economy?
Subsidies to encourage production of certain goods
Price controls on essential commodities
Complete deregulation of all industries
Imposing taxes on luxury items
#10
What economic system advocates for minimal government intervention and emphasizes individual freedom?
Socialism
Communism
Capitalism
Fascism
#11
What is an example of direct government intervention in the labor market?
Minimum wage laws
Decreasing corporate taxes
Providing subsidies to businesses
Privatization of public services
#12
What is the primary objective of government intervention during times of recession?
To increase interest rates
To decrease government spending
To stimulate economic growth and reduce unemployment
To implement austerity measures
#13
What is the 'invisible hand' concept often associated with?
Command economy
Laissez-faire capitalism
Planned economy
Socialism
#14
Which economic theory argues that government intervention often leads to market inefficiencies?
Keynesian economics
Neoclassical economics
Marxian economics
Behavioral economics
#15
Which economic theory emphasizes the importance of government spending and taxation to manage the economy?
Classical economics
Monetarism
Keynesian economics
Supply-side economics