Capitalism / Communism / Economic Terms 2023

Front

Scottish Professor who believed that the successful market economy is based on competition.

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Adam Smith

Front

The capitalist class who own most of society's wealth and means of production.

Back

Bourgeoisie

Front

Wealth in the form of money or other assets owned by a person or organization.

Back

Capital

Front

An economic system where a government places very few restrictions on the types of business activities or ownership in which citizens participate.

Back

Free enterprise system

Front

Workers or working class people.

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Proletariat

Front

______________get to make the economic decisions under capitalism.

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Individuals

Front

Which of the following is NOT a good? A basketball, A pair of shoes, Teaching , PS5

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Teaching 

Front

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

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Classless Society

Front

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

Back

Capitalism

Front

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

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Capitalism