GOVT Political and Economic Systems Flashcard

Front

Which form of economy allows for a free enterprise system in which businesses are allowed to compete? Options: Communism, Cannibalism, Socialism, Capitalism

Back

Capitalism

Front

What is the primary reason for motivation in a free enterprise system? Options: Competition with others, Potential to make a profit, Own your own business, Set your own schedule

Back

Potential to make a profit

Front

Which form of economy peacefully works towards providing economic equality? Options: Communism, Realism, Socialism, Capitalism

Back

Socialism

Front

Which form of economy supports a violent revolution and all facets of the economy are controlled by the government? Options: Communism, Cubism, Socialism, Capitalism

Back

Communism

Front

Which form of economy calls for higher taxes for an increased number of welfare programs and where the government takes the role of a "mother hen."

Back

Socialism

Front

Which form of economy allows the majority of its property to be privately owned by its citizens? Options: Communism, Taoism, Socialism, Capitalism

Back

Capitalism

Front

Which form of economy allows only state controlled single-party elections? Options: Communism, Organism, Socialism, Capitalism

Back

Communism

Front

This occurs when a nation imports more goods than it exports per year.

Back

Trade Deficit

Front

This occurs when a nation exports more goods than it imports per year.

Back

Trade Surplus

Front

Which form of government has one leader with absolute control and gives very few rights to its citizens? Options: Democracy, Totalitarian, Theocracy, Anarchy

Back

Totalitarian