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  5. Macro Economic Systems Fall 2024 Per 1
Macro - Economic Systems - Fall 2024 - Per 1

Macro - Economic Systems - Fall 2024 - Per 1

Assessment

Flashcard

Social Studies

7th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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16 questions

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1.

FLASHCARD QUESTION

Front

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

Back

Classless Society

2.

FLASHCARD QUESTION

Front

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

Media Image

Back

Capitalism

3.

FLASHCARD QUESTION

Front

In a "pure" communist society, who are the wealthiest and most powerful people?

Back

No One--every member of society is supposed to be equal

4.

FLASHCARD QUESTION

Front

In a Communist country, workers have no ________ to work harder.

Back

Incentive

5.

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.

6.

FLASHCARD QUESTION

Front

What does communism believe in?

Back

Economic equality through elimination of private property.

7.

FLASHCARD QUESTION

Front

The founder of communism

Back

Karl Marx

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