Economic System

In a socialist economy, the wealth is distributed evenly among citizens.

• True
• False

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

• Intellectuals
• Business leaders
• Military leaders
• No One--every member of society is supposed to be equal

Laissez-faire means...

• Hats off
• Hands around
• Hands off
• Hands on

In a communist society...

• the government controls the means of production

• the individual owns the means of production

• wealth is distributed evenly amongst society

• there is no wealth or private property

Which is not an economic system?

• Capitalism

• Mutualism

• Communism

• Socialism

Which economic system promotes competition?

• Communism

• Capitalism

• Socialism

Property is owned by the state

• Communism
• Capitalism

Socialism distributes goods to each individual's needs.

• True

• False

The economic system of communist countries is most closely related to which of the following:

• Command

• Market

• Traditional

• Mixed

Which of the following is NOT one of the basic questions that all economic systems must answer:

• What to produce

• When to produce

• How much to produce

• For whom to produce