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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
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StudBud Administration
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Review of Capitalism, Socialism and Communism
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
Who will win the 2016 Election?
Clinton
Trump
2
Socialism still allows for
private market competition
control over all production of goods
lower taxes
3
System where there is a big divide between rich and poor
Ism
Communism
Capitalism
Socialism
4
This system hopes to provide fairness
Fairism
Socialism
Capitalism
Communism
5
System in which there is no welfare or safety net
Welfareism
Capitalism
Socialism
Communism
6
System with the least economic freedom
Some ism
Socialism
Capitalism
Communism
7
The government is hands off and leaves all decisions up to the people.
Communism
Capitalism
Socialism
8
System provides necessities from "cradle to the grave" if you are poor
Socialism
Systemism
Capitalism
Communism
9
Which countries use Socialism?
Canada
United States
Sweden
Indonesia
10
You usually find this system in countries that are Democracies
Democracyism
Socialism
Capitalism
Communism
11
The United States uses --
Pure Socialism
A combination of Capitalism and Socialism
Pure Capitalism
12
Capitalism is also called
Free thinking
Free Stuff
Free Market
13
System with high taxes to pay for what the government does
Socialism
Alienism
Capitalism
Communism
14
Which countries are Communist?
North Korea
United States
China
Sweden
15
System where the government sets your pay
Capitalism
Communism
Socialism
Systemism
16
System based on competition
Socialism
Capitalism
Communism
Competitionism
17
System in which property is owned by community
Propertyism
Capitalism
Socialism
Communism
18
In which system does the government plan everything?
Communism
Capitalism
Socialism