Capitalism, Socialism and Communism

Front

Which is NOT a characteristic of Capitalism? Options: Market Economy, Supply and Demand, Freedom of Competition, Classless Society

Back

Classless Society

Front

The government or groups of workers might control these resources but the profits are divided among the people.

Back

Socialism

Front

In a socialist economy, the wealth is distributed evenly among citizens.

Back

True

Front

What is Capitalism?

Back

Capitalism is an economic system where the means of production are privately owned and operated for profit!

Front

______________get to make the economic decisions under capitalism.

Back

Individuals

Front

A good is an object people want that they can touch or hold.

Back

True

Front

Which of the following is NOT a good? A basketball, A pair of shoes, PS4

Back

Teaching 

Front

Which of the following is NOT a service? Lloyd's Haircutting Service, China Grove Middle School, iPhone 6s - Rose Gold, Lake Norman Hospital

Back

iPhone 6s - Rose Gold

Front

Laissez-faire means...

Back

Hands off

Front

In a socialist country, citizens pay LESS in taxes than those who live in a capitalist country.

Back

False