1. The main idea of this chapter is that (a) a market economic system is the best economic system
(b) there are different types of economic systems
(c) people should not criticize the economic system of their own country
(d) there is one global economic system.

2. Which one of the following questions does this chapter help you to answer?
(a) What do all economic systems have in common?
(b) What do Chinese leaders think of the United States?
(c) Should people give up their traditions?
(d) How shall I earn my living?

3. Which statement is an opinion rather than a fact?
(a) Private individuals own most of the factories in the United States.
(b) All societies must answer the what, how, and who questions.
(c) Societies answer the what, how, and who questions in different ways.
(d) The most important economic goal in the United States at the present time is to end poverty.

4. Which of the following is most likely to happen in a market economic system?
(a) Storekeepers will try to give customers what they want.
(b) Most stores will be owned by the government.
(c) The price of goods and services will be set by the government.
(d) Young people will take on the occupation of their parents when they grow up.