Economic System Review

______________get to make the economic decisions under capitalism.

• Individuals
• Government
• Literally no one
• The President 

Who owned everything under communism?

• Wealthy people
• The secret police
• The government
• The poor people

What is a key difference between capitalism and communism?

• Private Property is allowed in Capitalism
• Communism allows for a free market
• Capitalism, in theory, spreads the wealth evenly
• Communism encourages entrepreneurship 

Government owns some industries.

• Socialism
• Communism
• Capitalism

This economic system America uses today.

• Socialism
• Communism
• Capitalism

This economic system is based on competition, profits, and self-interest.

• Socialism
• Communism
• Capitalism

Classless society: all members of society are considered to be equal

• Communism
• Capitalism

Profit, private property and choosing your job are all characteristics of

• Free Enterprise
• Communism
• Socialism
• Mixed economy

Majority of jobs in a more developed country are 

• primary activity
• secondary activity
• quaternary activity
• tertiary activity

Which of the following do communism and capitalism have in common?

• private property
• a form of currency (money)
• equality
• 5 year plans