Political Economy - Economic Systems MCQ Test: Political Economy - Economic Systems MCQs - Practice Questions
1. What is the main goal of economic planning?
2. What is the main focus of environmental economics?
3. Which economic system relies on central planning and government control to determine prices and allocate resources?
4. What term refers to the policies and practices that regulate international trade?
5. What term refers to the process of making predictions about future economic conditions?
6. Which economic system relies on government intervention to correct market failures?
7. What term refers to a severe downturn in the economy, characterized by a decline in economic activity and high unemployment?
8. What are the organizations and structures that shape economic behavior and outcomes called?
9. Which economic system aims to achieve economic equality through the collective ownership of resources?
10. Which economic system is characterized by common ownership of the means of production and the absence of private property?
11. Which economic system allows for a combination of private and public ownership of the means of production, as well as market-based and planned elements?
12. Which economic system is characterized by private ownership of the means of production and profit-driven decision-making?
13. How does political economy influence technology?
14. Which economic system allows for both private and state ownership of the means of production?
15. What is the main focus of the political economy of institutions?
16. What term refers to the process of improving the economic, political, and social well-being of a country?
17. Which of the following is not a type of economic system?
18. What is the term for the study and comparison of different economic systems?
19. What is the system of exchange rates and international payments used by countries called?
20. What is the process of increasing integration and interdependence among economies called?
21. Which economic system is based on the principles of private property, profit motive, and market competition?
22. Which economic system is based on the principle of individual self-interest and competition?
23. Which political economy theory argues that economic factors are the primary drivers of political and social change?
24. What is the main goal of fiscal policy?
25. Which economic system combines elements of both market and command economies?
26. What term refers to the statistical measures used to assess the health and performance of an economy?
27. What term refers to a simplified representation of economic relationships and processes?
28. Which economic system aims to achieve a classless society through common ownership of the means of production and the abolition of private property?
29. What term refers to the way income is distributed among individuals in a society?
30. What is the increase in the value of goods and services produced by an economy over time called?