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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
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1
What is the word Marx used to describe business owners that take advantage of workers?
bourgeoisie
lassiez faire
invisible hand
proletariate
2
What is the word Marx used to describe workers that are exploited by business owners?
invisible hand
bourgeoisie
lassiez faire
proletariate
3
Competition in a capitalistic system leads to
Low Rates of Private Ownership
High Profit
Low Prices
High Wages
4
Who is this man that is the father of Communism?
Karl Marx
Adam Smith
Sigmund Freud
Thomas edison
5
These countries are mostly what type of economic system
Lassiez Faire
Communistic
Socialistic
Capitalistic
6
What economic motives are essential to capitalism?
government owning base industries
profit / competition
equality
collectivized wealth
7
What do these men have in common?
Capitalistic Leaders
Theocratic Leaders
Communistic Dictators
Socialistic Dictators
8
A typical business that is owned by the government under a socialistic system is
restaurants
clothing / textile
health care / hospitals
automobiles
9
All of the economic motives are essential to communism except?
Collectivized wealth
Equality
Profit
No private ownership
10
Which economic system values selfish ambition?
Communism
Socialism
Capitalism
11
This French word means no government interference in business. It is pure capitalism.
S'il vous plaît
laissez faire
coup de grace
coup d'etat
12
Smith believed this term would assure a economy would function properly through self interest, supply, and demand.
invisible hand
bourgeoisie
proletariate
lassiez faire
13
Who is this man who is the father of capitalism?
Charles Darwin
Adam Smith
Bryan Ashkettle
Karl Marx
