ET: The 3isms✅

Front

What does 'laissez-faire' mean in the context of economic policies?

Back

Hands off

Tags

7.E.1.1

Front

Imagine Kendall and Kamryn are leading a union of factory workers. What clever strategies might they use to negotiate with the factory owners?

Back

Collective bargaining, slow downs, and going on strikes

Tags

7.E.1.1

Front

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

Back

Capitalism

Tags

7.E.1.1

Front

In a communist society, who holds the most influence and control over resources?

Back

No one, as resources are shared equally among all.

Tags

7.E.1.1

Front

A challenge to socialist economic systems would be __.

Back

people will only work as hard as they need to.

Tags

7.E.1.1

Front

Which of the following best describes the communist economic structure?
Private businesses operate independently
The state owns all resources and industries
Individuals compete for wealth and resources
There is a free market economy

Back

The state owns all resources and industries

Tags

7.E.1.1

Front

Ayden and Doodle are discussing an economic system where:

• There's no government interference
• Owners of capital are free to do as they like

Which system are they talking about?

Back

Free Enterprise

Front

In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?

Back

Capitalism

Front

Kyle and Ryan are researching an economic system in which the GOVERNMENT controls all the land, resources, and factories. What type of economic system are they investigating?

Back

Socialism