In which economic system is the GOVERNMENT in control of land, resources, and factories?

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Social Studies
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10th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Socialism
2.
FLASHCARD QUESTION
Front
In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?
Back
Capitalism
3.
FLASHCARD QUESTION
Front
In which economic system are the working class people as a WHOLE in charge of owning land, resources, and factories?
Back
Communism
4.
FLASHCARD QUESTION
Front
The founder of communism
Back
Karl Marx
5.
FLASHCARD QUESTION
Front
Which is NOT a characteristic of Capitalism? Options: Market Economy, Supply and Demand, Freedom of Competition, Classless Society
Back
Classless Society
6.
FLASHCARD QUESTION
Front
This economic system is based on competition, profits, and self-interest.
Back
Capitalism
7.
FLASHCARD QUESTION
Front
How does socialism differ from capitalism?
Back
In socialism, the goverment controls the means of production; whereas, capitalism focuses on the private owner.
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