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 __________

The Central Planning Authority in the former Soviet Union was called ___________

____________ was the fundamental restructuring of the Soviet economy introduced by President Mikhail Gorbachev.

_____________ was the Independent Polish labor Union founded by Lech Walesa in 1980.

________ was an Independently owned group of Japanese business firms united to regulate competition.