Social Institutions: Economy + Government

Open Ended

What is an example of a need?

Open Ended

What is an example of a want?

Multiple Choice

What is capitalism?

• Private ownership of the means of production and their operation for profit

• A trade system that relies solely on barter and exchange without currency

• An economic model based on communal ownership and shared resources

• A system where the government controls all production and distribution

Multiple Choice

What is socialism?

• A property is privately owned

• Political ideology that supports absolute monarchy

• Promotes free market capitalism without government intervention

• Collective or governmental ownership of the means of production

Multiple Choice

What is communism?

• A form of capitalism that focuses on farming

• Hierarchical society with distinct classes

• A classless society with communal ownership of property

• Promotes individual ownership of property

Open Ended

Who do you think is an example of a charismatic leader?