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SS10 Economic Systems Flashcards | StudBud
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SS10 Economic Systems
SS10 Economic Systems
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SS10 Economic Systems
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Another word for "dollar voting" is ....
supply and demand
consumer sovereignty
market forces
laissez-faire
2
The problem of economics has always been finite resources but infinite....
expectations
supply
services
demands
3
Marx called for ______________ of the World to Unite!
Workers
Students
Women
Teachers
4
Exclusive rights to a commodity or service is a .....
minority
monarch
majority
monopoly
5
Which is NOT a value of Capitalism?
profit motive
government restrictions
free markets
private ownership
6
Under Mercantilism, wealth was measured by the monarchs...
gold and silver
loonies and toonies
ships and sailors
beaver and bear pelts
7
The critic of Capitalism and its exploitation of workers was....
Shawn Mendes
Justin Trudeau
Karl Marx
Adam Smith
8
The goal of every economic system is...
collective wealth
long term prosperity
short term prosperity
individual wealth
9
Smith believed that every individual should be able to profit from his/her....
hopes and dreams
abuse of others
inherited money
hard work
10
The "invisible hand" represents......
monopolies
supply and demand
trade restrictions
horror movies
11
Marx referred to those who owned the means of production, the oppressors as the ...
Bourgeousie
Revolutionaries
Political leaders
Proletariat
12
The role of government in Capitalism is not...
security
safety
social services
sewers
13
Karl Marx looked at the exploited workers and asked, "Where is the......
self interest
back door
humanity
air freshner
14
Smith says that people determine the value of a product by.....
bartending
bartering
bickering
barking
15
Under Mercantilism, resources were obtained by taking control of other lands, or....
campgrounds
colonies
cafeterias
corporations
16
Under Mercantilism and Capitalism, workers have been.....
exploited
completed satisfied
sensationalized
glorified
17
According to Marx, exploited workers would unite in a violent....
rock concert
protest march
revolution
storm
18
An economy based on historical precedent is a ....
poor economy
traditional economy
market economy
centrally planned economy
19
In Capitalism, consumers make their desires known by....
scrimping and saving
dollar voting
working hard
speaking loudly
20
A critic of Mercantilism and monopolies was ....
Adam Smith
Justin Bieber
Karl Marx
Donald Trump
