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