Chapter 15: Economic and Government Influences Quiz

Which of the following is a method individuals can use to influence government policy?

How can small business owners lobby for favorable legislation?

What impact can a government decision to increase the minimum wage have on individual finances?

Higher interest rates set by the central bank generally reduce the cost of borrowing for individuals.

In a capitalist economy, private ownership and free markets create more opportunities for wealth creation through entrepreneurship and investment.

Arrange these actions from most to least impactful in influencing government policy: Lobbying, Voting, Attending town hall meetings, Writing to elected officials.

Rank these economic systems by the level of government involvement in the economy from most to least: Socialism, Mixed economy, Capitalism.

How does understanding the economic system of your country help in personal wealth-building strategies?

Definition

Definition