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Economic Systems
Economic Systems
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The differences between Capitalism, Socialism, Communism.
Flashcards
14 cards
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Questions
14
Answers
1
A country that provides many services to its people at little or no cost is?
Welfare State
State Controlled Culture
Low Cost Nation
Free Society
2
Laissez-faire government means what?
Hands Off
Harsh
Kind
Controlling
3
This nation can best be described as capitalist.
America
North Korea
Denmark
China
4
Nations that use Socialism have what kind of taxes?
Very High
No Taxes
Very Low
Moderate Taxes
5
Economic system that believes wealth should beequally distributed throughout a society.
Pluralism
Socialism
Capitalism
Communism
6
Who gets credit for the idea of communism/socialism?
Jules Vern
John Keynes
Thomas Malthus
Karl Marx
7
America's economy can be best described as what?
Pure Capitalist
Pure Socialism
Communism
Mixed Economy
8
Which country is considered a communist country?
Mexico
Italy
North Korea
America
9
The idea of Socialism/Communism started during what event?
Cold War
Berlin Blockade
Industrial Revolution
WW I
10
Capitalism promotes what?
Monopolies
Nationalization
Decline in opportunity
Competition
11
Collective ideologythat calls for state ownership of land and other property is?
Communism
Pluralism
Capitalism
Socialism
12
This nation uses a Socialism economy.
China
Denmark
America
North Korea
13
Which ISN'T a factor of production in capitalism?
Capital
Labor
Land
Ingenuity
14
Buying a piece of ownership of a company is called a what?
Stock
Fund
IRA
Bond
