Capitalism, Socialism and Communism

Front

What is Capitalism?

Back

Capitalism is an economic system where the means of production are privately owned and operated for profit!

Front

______________get to make the economic decisions under capitalism.

Back

Individuals

Front

A good is an object people want that they can touch or hold.

Back

True

Front

Which of the following is NOT a good? A basketball, A pair of shoes, PS4

Back

Teaching 

Front

Which is NOT a characteristic of Capitalism? Options: Market Economy, Supply and Demand, Freedom of Competition, Classless Society

Back

Classless Society

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 more distributed evenly among citizens.

Back

True

Front

In a socialist country, citizens pay LESS in taxes than those who live in a capitalist country.

Back

False

Front

This economic system aims to make the best products for the lowest amount of money, which often times leads to bad treatment of workers.

Back

Capitalism

Front

The United States is an example of what economic systems? Options: Capitalism, Socialism, Mixed Economy, Communism

Back

Capitalism