Capitalism

The United States is considered a ________economy.

• communist

• socialist

• capitalist

• all the answers are correct

What are the cons of capitalisim? Choose all the correct answers.

• Capitalism can lead to an unfair distribution of wealth with a few people holding a significant amount of the money.

• Capitalism can lead to unsafe work conditions and unfair wages for the working class.

• Capitalism can create powerful monopolies where one company can control pricing and supply without government intervention.

• In a capitalist economy, people and companies are rewarded for innovation. This leads to greater technological advances.

An important characteristic of capitalism is private _____

• thoughts

• property

• chat rooms

• cooks

Another name for capitalism is

• communism.

• socialism.

• the free-market system. 

• All the answers are correct

What is a free market system?

• People can decide what products to buy and how much they want to pay

• The market is free to work itself out without government intervention.

• ​Businesses can decide what products to make and how much to sell them for. 

• All the answers are correct

The idea of the free-market system was first introduced this Scottish economist in 1776.

• John Smith

• John Adams

• Adam Smith

• Adam Sandler

Today, many countries have a capitalist economy, but the government takes an active role in stabilizing the economy and providing regulations to protect the public. 

• True

• False

In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?

• Communism

• Socialism

• Capitalism

Greed is a weakness of which system?

• Capitalism

• Communism

• Socialism

There is a great divide between people with high incomes and low incomes in which system?

• Socialism

• Communism

• Capitalism