What Do You Know About Capitalism? Trivia Quiz

10 Questions | Total Attempts: 318

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What Do You Know About Capitalism? Trivia Quiz

In the capitalist economy, the private ownership of businesses is allowed. The business refers to the means of production needed to make optimum profit. An advantage of this is healthy competition between businesses to the delight of the citizens. Most of the liberal countries of the world adopts the capitalist system. Do you know them?


Questions and Answers
  • 1. 
    What is the hallmark of capitalism? 
    • A. 

      Competition 

    • B. 

      Private ownership 

    • C. 

      Trade for profit 

    • D. 

      Voluntary exchange 

  • 2. 
    Which of these is not a characteristic of capitalism? 
    • A. 

      Price system 

    • B. 

      Private ownership 

    • C. 

      Accumulation of capital 

    • D. 

      Monopoly 

  • 3. 
    Which of these is a not a type of capitalism? 
    • A. 

      Welfare capitalism 

    • B. 

      Free market 

    • C. 

      Sole capitalism 

    • D. 

      State capitalism 

  • 4. 
    Which of these is not a model of capitalism? 
    • A. 

      Degree of competition 

    • B. 

      Scope of state ownership 

    • C. 

      Variance of brokers 

    • D. 

      Role of intervention 

  • 5. 
    Which of these countries does not practice capitalism? ​​​​​
    • A. 

      France 

    • B. 

      United States 

    • C. 

      Russia 

    • D. 

      United Kingdom 

  • 6. 
    Which of these is not an element of market competition in capitalism? 
    • A. 

      Promotion 

    • B. 

      Price 

    • C. 

      Monopoly 

    • D. 

      Distribution 

  • 7. 
    What is the desire to earn income in form of profit called? 
    • A. 

      Profit motive 

    • B. 

      Competition 

    • C. 

      Price control 

    • D. 

      Monopoly 

  • 8. 
    Which of these economists described capitalism? 
    • A. 

      Adam Smith 

    • B. 

      Lord Robbins 

    • C. 

      Martin Hooke 

    • D. 

      Alfred Marshal 

  • 9. 
    How can a capitalist economy not be assessed? 
    • A. 

      Grade point average 

    • B. 

      Capacity utilization 

    • C. 

      Standard of living 

    • D. 

      By gross domestic average 

  • 10. 
    Which of these is not associated with demand and supply in capitalism? 
    • A. 

      Price 

    • B. 

      Surplus 

    • C. 

      Monopoly 

    • D. 

      Shortage 

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