Capitalism, Communism, & Political Economies: Crash Course Geography

What is a common characteristic of successful duos, as discussed in the video?

• They always work in isolation.

• They often consist of opposites.

• They are always similar in nature.

• They never face challenges.

What does economic geography primarily study?

• The distribution of material wealth.

• The distribution of political power.

• The development of languages.

• The history of ancient civilizations.

What does the term 'political economy' refer to?

• The development of cultural practices.

• The history of economic theories.

• The interaction between politics and economics.

• The study of ancient political systems.

Which type of economy is primarily based on extracting raw goods?

• Tertiary economy

• Primary economy

• Secondary economy

• Quaternary economy

What is a key feature of capitalism?

• Profit-driven private business ownership.

• Government control of all markets.

• Public ownership of all resources.

• Elimination of all economic competition.

How does democratic socialism differ from capitalism?

• It allows for complete market freedom without regulation.

• It sets policies to prevent swings in costs for essential services.

• It focuses solely on agricultural production.

• It eliminates all forms of trade.

What was a significant change in Bulgaria's political economy after 1990?

• It became a communist state.

• It adopted a planned economy.

• It transitioned to a capitalist system.

• It eliminated all forms of trade.

What is the informal economy?

• A sector that includes only illegal activities.

• A regulated and taxed economic sector.

• A government-controlled economic system.

• A diverse range of unregulated economic activities.

Which sector is the largest growing worldwide?

• Quaternary sector

• Tertiary sector

• Secondary sector

• Primary sector

What was a characteristic of Bulgaria's economy during its communist days?

• It was based on free market principles.

• It relied heavily on secondary activities.

• It relied heavily on primary activities.

• It had no government planning.