Economics Chapter 2

​Which nation today is the most striking example of successful privatization?

Communist countries like North Korea and Cuba are examples of mixed economies.​

What happened that made the US shift from a market economy to a mixed economy

The conversion of state-owned factories to private ownership is

This is an organized way a society provides for the wants and needs of its people

Meeting place or arrangement where buyers and sellers interact to determine price and quantity

This economic system goes with a market economy

GDP per capita measures the GDP per what?

What is an advantage to a traditional economy

What is a disadvantage of a command economy

What is not a reason that mixed economies exist

Why did Sweden move from socialism to a more mixed economy in the 1980s?

The use of scarce resources stems from ritual, habit, or custom represents what economy

Mixed economies all have the same characteristics

In what years did the great depression affect the U.S. the most

Economic philosopher Karl Marx led to the idea of??

Mixed economies can evolve when societies with different kinds of economies interact.​

What is an advantage of a capitalistic economy

This economic system coincides with a command economy

Russia used this as economic plan to achieve rapid industrialization