Practice What is an Economic System? - 8.1.1 | Unit 8: Economic Systems and Decision-Making | IB Board Grade 12 – Individuals and Societies
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8.1.1 - What is an Economic System?

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is an economic system?

💡 Hint: Think about what economic decisions are made.

Question 2

Easy

Name one characteristic of capitalism.

💡 Hint: What do individuals or businesses own?

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is a defining feature of capitalism?

  • State ownership
  • Private ownership
  • Central planning

💡 Hint: Which word suggests that individuals own resources?

Question 2

True or False: In socialism, the market determines prices.

  • True
  • False

💡 Hint: Who decides in a socialist economy?

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Analyze the impacts of a government shifting from a capitalist economy to a socialist model on income distribution.

💡 Hint: Consider how ownership impacts wealth distribution.

Question 2

Critically evaluate the effectiveness of mixed economies in addressing social inequalities compared to pure capitalist systems.

💡 Hint: Think about how both private and public roles can change outcomes.

Challenge and get performance evaluation