Capitalism

Invisible hands is

• the name of Adam Smith's Book

• invisible forces that move the economy

• the government force over the market

Which is a fundamental idea of laissez-faire capitalism

• Workers should own the means of production

• Businesses should gain and lose according to their own effort

• Government should control output and wages

A sale on winter coats in June is an example of _____ supply, _______ demand.

• High, low

• Low, high

A present-day example of laissez-faire economics would be

• minimun wage laws

• farm subsidies

• deregulation of the airline industry

Capitalism

• global trading of people, goods, technology, ideas and disease

• economic system in which money is invested in businesses to make profit

• settlement of people living in a new territory controlled by their home country

Who came up with the idea of capitalism in their book, The Wealth of Nations?

• Charles Marx

• Adam Smith

• Donald Trump

"The bigger the market, the more we specialize, the more we can produce"

• Division of labor

• Invisible hands

• Labor market

Who makes the decisions in a capitalist economy?

• The People or Citizens (You and Me)

• The Government

The Book "The Wealth of Nations" provides the basic theory of

• Socialism

• Communism

• Capitalism

Capitalism characteristics are............................

(THREE answers)

• private property

• freedom of choice

• collective ownership

• competition

• Economic, Social and Political Equality