Economic Systems

Front

The government owns some major industries like railroads and uses democratic methods to distribute wealth more equitably. Which economic system is this? Options: socialism, capitalism, traditional, communist

Back

socialism

Front

What happens only in a communist economy?

Back

The government controls all business activities

Front

True or False: An economic system explains how a society makes and sells products.

Back

True

Front

Eugene Debs was a...

Back

socialist

Front

Karl Marx's ideas inspired

Back

dictatorships

Front

The United States practices

Back

mixed market

Front

Adam Smith argued that wealthy nations...

Back

allow businesses to rise/fall on their own merits

Front

This economic system has the MOST government control: capitalism, mixed market, communism, socialism

Back

communism

Front

This economic system has the LEAST government control: socialism, mixed market, communism, capitalism

Back

capitalism

Front

Which of the following is NOT a positive aspect of capitalist economies? Options: allows for economic growth, opens opportunities for social mobility, offers protections for individuals, businesses rise and fall on their own merits

Back

offers protections for individuals