3.15 Economic systems

Which is NOT an economic system?

• Capitalism

• Mutualism

• Communism

• Socialism

In which economic system is the GOVERNMENT in control of land, resources, and factories but the PEOPLE still control some things as well?

• Socialism

• Capitalism

• Communism

In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?

• Communism

• Socialism

• Capitalism

In which economic system is The GOVERNMENT in charge of all the economy?

• Communism

• Socialism

• Capitalism

The government becoming too powerful is a weakness of which TWO systems? SELECT 2

• Capitalism

• Socialism

• Communism

The government is strongly involved in which economic system but does not control everything?

• Capitalism

• Socialism

• Communism

The people are in charge of the economy in which economic system?

• Communism

• Capitalism

• Socialism

In a "pure" communist society, who are the wealthiest and most powerful people?

• Intellectuals
• Business leaders
• Military leaders
• No One--every member of society is supposed to be equal

A small family-owned business would be seen in this system

• Socialism

• Capitalism

How does socialism differ from capitalism?

• In socialism, the government controls the means of production; whereas, capitalism focuses on the private owner(the people).

• In socialism, the goverment provides subsidies for small buisnesses; whereas, capitalism only depends on the corporations to spark the economy.
• In socialism, the goverment does not provide any form on humanitarian aid; whereas, capitalism funds small buisness with tax relief.
• In socialism, the government controls what the consumer can purchase; whereas, capitalism controls what the business can market.