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Centrally Planned Economy Flashcards | StudBud
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Centrally Planned Economy
Centrally Planned Economy
8 terms
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StudBud Administration
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#economicsystems
Flashcards
8 cards
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Questions
8
Answers
1
Who was the German philosopher that gave rise to communism?
Vladimir Lenin
Karl Marx
Adam Smith
Kim Jong Un
2
economic
system in which the government makes all decisions on the three key economic questions
Mixed Economy
Traditional Economy
Centrally Planned Economy
Free Market Economy
3
political
system in which the government owns and controls all resources/means of production
capitalism
democracy
communism
dictatorship
4
Centrally planned economies operate in direct contrast to...
free market economy
traditional economy
mixed economy
supply economy
5
economic/political systems based on belief that wealth should be evenly distributed in society
capitalism
aneurysm
hinduism
socialism
6
Marx believed that ___ was the exploitation of workers and an unfair distribution of wealth.
socialism
federalism
capitalism
communism
7
another name for centrally planned economy
command economy
demand economy
mixed economy
8
Countries with centrally planned economies consist of...
United States, Singapore, Australia, Hong Kong, Canada
South America, Asia, Latin America, the Middle East
Iceland, Sweden, France, United Kingdom, Russia
North Korea, Cuba, Zimbabwe, Vietnam, Laos
