Economic Systems

Is the founder of capitalism

• Adams Smith

• Karl Marx

• Frederick Engles

• King Louie

Wrote the Communist Manifesto (2 correct answers)

• Adams Smith

• Karl Marx

• Frederick Engles

• King Louie

Wrote the Wealth of Nations

• Adams Smith

• Karl Marx

• Frederick Engles

• King Louie

wrote describes capitalism (where the goal is to make profits).  

• Adams Smith

• Karl Marxs

• Fredrick Engles

• King Louie

__ is the founder of the economic system called communism.

• Adams Smith

• Karl Marxs

• Fredrick Engles

• King Louie

_ _ is. a term that describes different people compete against each other.  Companies decide what goods and services to sell and customers decide what to buy and how much to spend.

• Free Market Economy

• Command Economy

• Productivity

• Division of Labor

_ _ means how much is being produced?

• Invisible Hand

• Supply and demand

• Private Property

• Productivity

_ _ means dividing up tasks so each person does one part like a factory system.

• Free Market Economy

• Division of Labor

• Laissez-faire Economics

• Supply and Demand

 __ means how much of a material or product (could be a person to complete a service like repairman) is available. 

• Productivity

• Invisible Hand

• Supply

• Demand

_ _ means how much a person wants that good or service.

• Invisible Hand

• Free Market Economy

• Supply

• Demand