Economic Systems

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

• Socialism
• Communism
• Capitalism

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.

What does communism believe in?

• Economic system with individuals having private ownership of money/production.
• Maintaining total control over society. 
• Economic equality through elimination of private property.
• A government of the people, by the people, for the people.

______________get to make the economic decisions under capitalism.

• Individuals
• Government
• Literally no one
• The President 

Low production of resources is a weakness of which 2 systems?

• Capitalism and Communism

• Communism and Socialism

• Socialism and Capitalism

The government becoming too powerful is a weakness of which system?

• Capitalism

• Socialism

• Monarchy

The government is strongly involved in which economic system? The system where government is more involved

• Capitalism

• Socialism

• Communism

Which economic system encourages high quality, achievement, and production?

• Socialism

• Communism

• Capitalism

Competition is encouraged in which system?

• Communism

• Capitalism

• Socialism