Economics Systems Quiz

Which of the following is a key characteristic of a traditional economy?

What was one major outcome of the Agricultural Revolution?

The Industrial Revolution moved most work back into the home, where family-based production became the norm again.

Which of the following best describes capitalism?

Mixed economies combine elements of both market systems and government control.

Name one myth about capitalism and explain why it doesn’t always match reality.

Do you think capitalism creates more opportunity or more inequality? Briefly explain your answer using one example from the lesson.