Economic Systems Review

The government provides assistance for people who might otherwise be left out including those who are not able to work.

• Traditional

• Communism

• Capitalism

• Socialism

You are a baker. Your neighbor is a doctor. You make the same wages because you have the same needs according to the government.

• Traditional

• Communism

• Capitalism

• Socialism

This system operates completely under the laws of supply and demand.

• Traditional

• Communism

• Capitalism

• Socialism

The 3 economic questions focus on how to improve living standards for all.

• Traditional

• Communism

• Capitalism

• Socialism

You are a weaver because your father was a weaver.

• Traditional

• Communism

• Capitalism

• Socialism

The most environmentally friendly of economic systems.

• Traditional

• Communism

• Capitalism

• Socialism

A company can get away with using poor quality materials because it is not monitored.

• Traditional

• Communism

• Capitalism

• Socialism

You are guaranteed decent living conditions by the government and all your medical bills are paid for from tax dollars.

• Traditional

• Communism

• Capitalism

• Socialism

All aspects of production are privately owned.

• Traditional

• Communism

• Capitalism

• Socialism

Not a lot of choice for consumers. [*2 systems]

• Traditional

• Communism

• Capitalism

• Socialism