Tschiggfrie 3rd Quarter Vocabulary

Question 1

economic or political system based on government ownership & control of businesses & production

Accepted Answer

Socialism

Question 2

economic system based on public ownership of property & control of production

Accepted Answer

Communism

Question 3

common people hold political power & can rule directly or through elected representatives.

Accepted Answer

Democracy

Question 4

The system of trade and industry by which the wealth of a country or region is made and used.

Accepted Answer

economy

Question 5

The careful use and management of money or of time, energy, words, etc.

Accepted Answer

economy

Question 6

something you cannot survive without is called a

Accepted Answer

need

Question 7

something you can live without but would like to have is called

Accepted Answer

want

Question 8

a skill in starting new businesses, especially when this involves seeing new opportunities.

Accepted Answer

entrepreneurship

Question 9

A new idea or method or the use of a new idea or method is called an

Accepted Answer

innovation

Questions 9