Economic Systems

Laissez-faire means...

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

The government or groups of workers might control these resources but the profits are divided among the people.

• Capitalism
• Communism 
• Socialism
• Mixed Economy

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

• True
• False

This economic system is based on competition, profits, and self-interest.

• Socialism
• Communism
• Capitalism

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

In a Communist country, workers have no ________ to work harder.

• Time
• Help
• Ability
• Incentive

How does socialism differ from capitalism?

• In socialism, the goverment controls the means of production; whereas, capitalism focuses on the private owner.
• In socialism, the goverment provides subsidies for small buisnesses; whereas, capitalism only depends on the corporations to spark the economy.
• In socialism, the goverment does not provide any form on humanitarian aid; whereas, capitalism funds small buisness with tax relief.
• In socialism, the government controls what the consumer can purchase; whereas, capitalism controls what the business can market.

______________get to make the economic decisions under capitalism.

• Individuals
• Government
• Literally no one
• The President 

One problem with socialism is...

• the rich will continue to get richer.

• people will only work as hard as they need to.

• those that don't work hard enough do not reap the benefits.

• the government keeps all of the wealth.

Which economic system promotes competition?

• Communism

• Capitalism

• Socialism