Economic & Political Systems Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What form of distribution and exchange is defined as giving with the expressed expectation of immediate return?

Question 2 2. What determines the price of a good or service in a capitalistic economy?

Question 3 3. Which of the following economic systems is characterized by state ownership of all factors of production?

Question 4 4. The president of a land-grant college would be a part of which modern economic sector?

Question 5 5. Which activity belongs in the primary sector?

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Question 6 6. Which one of the following statements is correct?

Question 7 7. Which of the following is NOT a feature of a sovereign nation state?

Question 8 8. How should a government behave in a capitalist system?

Question 9 9. Which of the following is true?

Question 10 10. Which one of the following is NOT a characteristic of capitalism?

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Question 11 11. What type of distribution is defined as goods and services given freely, without any immediate expectation of return?

Question 12 12. Which of the following is the best explanation of a free market in the real world?

Question 13 13. Which term describes the way a society organizes the production, distribution, and consumption of goods and services to meet people's needs and wants?

Question 14 14. Which of these is NOT an example of market exchange?

Question 15 15. Which one of the following is the dominant form of economic system in the world today?

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Question 16 16. Which of these approaches signifies the study of how people adapt to their natural environments in order to survive?

Question 17 17. Which economic system places the factors of production in the hands of individuals with minimal state intervention?

Question 18 18. Which of these is not an example of redistribution?

Question 19 19. The majority of people were employed in which sector of the economy during the mid-19th century in the United States?

Question 20 20. What's the key difference between a market system and a command system?

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Question 21 21. Which of these is defined as the studying of the planned-out, rational decisions that a society makes when determining how to use and maximize their resources?

Question 22 22. Which of these would be considered in the realm of substantive economics?

Question 23 23. Societies with a large tertiary sector have more individuals working in the _____ industry.

Question 24 24. Under which political system do we find a reigning monarch alongside governance by elected representatives?

Question 25 25. In the view of Talcott Parsons, Integration is to family as Adaptation is to

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Question 26 26. Which of these was written by Polanyi?

Question 27 27. Which one of the following is the best explanation of an economy?

Question 28 28.

John manages a toy factory that produces toy trains, baby dolls, and race cars. Every day he receives a list from the local government specifying how many toys he must produce, what materials to use, and how much each toy is to be sold for. He organizes the day's work accordingly.

This scenario closely aligns with which of the following?

Question 29 29. Which political system is governed by elected officials?

Question 30 30. Michael L. Smith was awarded the Physiology and Entomology Noble prize in 2015 for his research on the sting of honey bees. He contributed to which modern economic sector?

Economic & Political Systems Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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