Ecconmics

Front

Government control of industry.

Back

Socialism

Front

What is the economic system where the means of production are privately owned?

Back

Capitalism

Front

In which economic system does the government play a minimal role? Options: Capitalism, Socialism

Back

Capitalism

Front

The U.S government has increased its influence on the economy by: imposing taxes, creating government agencies, creating laws.

Back

All of the above.

Front

Which economic system is characterized by collective ownership of resources?

Back

Socialism

Front

What role does the government play in a mixed economy?

Back

Limited role

Front

What is the definition of a mixed economy?

Back

A mixed economy is an economic system that combines elements of both capitalism and socialism.

Front

What are the characteristics of a mixed economy?

Back

A mixed economy combines elements of both capitalism and socialism, with private ownership and government intervention to ensure social welfare and prevent monopolies.

Front

In a mixed economy, who typically owns the means of production?

Back

Both private individuals and the government

Front

What is the role of government in a mixed economy?

Back

The role of government in a mixed economy is to regulate and control certain aspects of the economy while allowing for private ownership and market forces to operate.