2.3- Economic Systems

Multiple Select

Which of the following situations represents capitalism?

Select all that apply

• A grocery store is required by law to pay employees at least $7.25 per hour.

• A person shopping for a bicycle test rides a few models and buys the one they like most.

• A software developer offers high pay for an open job position to attract talented people to apply.

• A bakery quickly sells out of muffins every day, so it raises the muffins’ price.

Categorize

Options (4)

individuals or businesses own the means of production

competition determines economic activity

the community owns the means of production

group decisions determine economic activity

Sort the items according to the economic system they describe.

Capitalism

Socialism

Categorize

Options (4)

A pharmacy fires an employee who repeatedly arrives late.

A movie theater charges more for a 3D movie than a 2D movie.

An injured factory worker wins a lawsuit after suing his employer for creating unsafe conditions

A health inspector reports a restaurant for not washing knives after cutting raw meat.

Sort the items according to whether they represent capitalism or socialism in the United States.

Capitalism

Socialism