Capitalism and Economic Systems

An advantage in a command economy is that resources can be redirected quickly.

An advantage in a command economy is economic freedom and efficiency

People are NOT free the engage in contracts in a capitalist society.

Karl Marx wrote the book The Wealth of Nations which discusses "the invisible hand" theory.

Cuba has a market economy?

Socialism is a mix of both a command and market economy.

The advantage to competition in a free market economy is that it keeps prices high?

Everyone in a capitalist society always agrees with the importance of all economic goals?

Consumers can influence the production and sale of goods in a market economy by voting with their dollars.

The Yugo car represents economic efficiency?

In a pure capitalist economic system a disadvantage is only productive resources are rewarded and market failures.

Freedom, Efficiency, Equity and Security are economic goals.

The goal of the United States is equal distribution of income?

In a command economy private individuals make all the economic decisions.

Karl Marx said the beneficiaries of socialism would be the government.

In a capitalist society people are motivated by public goods.

The three basic economic questions are WHAT, HOW and FOR WHOM to produce

In a command economy private individuals make all the economic decisions.

A command economy is the most prevelant economic system in the world today?

The consumer is sovereign in a free market economy.