2.3 Economics- The Global Transition to Capitalism

Which country is an example of a capitalist country?

• Cuba

• Venezuela

• Singapore

• North Korea

What is the main difference between Japanese capitalism and capitalism in the United states?

• Japan's government regulates private firms to keep competition at a minimum.

• Japan does not permit the sale of corproate stock.

• Japan has a more loyal and dedicated workforce.

• Japan's government is highly involved in day to day business management.

Which of these statements apply to present day Sweden?

• Its taxation and unemployment rates are relatively low.

• Its unemployment rate and GDP per capita are relatively low.

• Its unemployment rate and GDP per capita are both relatively high

• Its GDP per capita and welfare payouts are both relatively low.

What conclusion can be drawn about capitalism from South Korea's economic growth in the late 20th century?

• Capitalism can restore a damaged economy.

• There is no real difference between socialism and capitalism.

• Socialism can revive an economy over a long period of time.

• A transition from capitalism to a command economy can involve struggle

Which statement describes why the people in a nation with a command economy might resist a shift to a free market economy?

• People who hold political power are threatened by fundamental changes.

• Workers are reluctant to give up their participation in a classless society.

• Workers are reluctant to accept complete government controlof their economy.

• Factory and business owners are reluctant to place their capital under worker authority.

Gross domestic product on a per person basis is GDP per (a)  

The Central Planning Authority in the former Soviet Union was called (a)  

(a)   was the fundamental restructuring of the Soviet economy introduced by President Mikhail Gorbachev.

(a)   was the Independent Polish labor Union founded by Lech Walesa in 1980.

(a)   was an Independently owned group of Japanese business firms united to regulate competition.