Economic Systems

Front

Laissez-faire means...

Back

Hands off

Front

The government or groups of workers might control these resources but the profits are divided among the people.

Back

Socialism

Front

In a socialist economy, the wealth is distributed evenly among citizens.

Back

True

Front

This economic system is based on competition, profits, and self-interest.

Back

Capitalism

Front

In a "pure" communist society, who are the wealthiest and most powerful people?

Back

No One--every member of society is supposed to be equal

Front

In a Communist country, workers have no ________ to work harder.

Back

Incentive

Front

How does socialism differ from capitalism?

Back

In socialism, the government controls the means of production; whereas, capitalism focuses on the private owner.

Front

Who gets to make the economic decisions under capitalism?

Back

Individuals

Front

One problem with socialism is...

Back

people will only work as hard as they need to.

Front

Which economic system promotes competition?

Back

Capitalism