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Advantages And Disadvantages of Socialism And Mixed Economy - SS1 Economics Past Questions and Answers - page 1

1

What is an advantage of socialism?

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A

Increased consumer choice

 

B

Reduced economic inequality

C

Increased economic growth

 

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2

What is a disadvantage of socialism?

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A

Lack of government control

 

 

 

B

Reduced consumer choice

C

Increased economic competition

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3

What is an advantage of mixed economy?

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A

Increased government control

 

 

 

B

Reduced economic inequality

C

Increased economic competition

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4

What is the disadvantage of a mixed economy?

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A

Reduced consumer choice

 

 

 

B

Increased economic inequality

C

Reduced government control

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5

What is the disadvantage of socialism?

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A

Increased economic competition

 

B

Lack of incentive

C

Increased consumer choice

 

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6

Why is conflict a disadvantage of a mixed economy?

 

 

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7

What is an advantage of a mixed economy?

 

 

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