Capitalism

The Book "The Wealth of Nations" provides the basic theory of

• Socialism

• Communism

• Capitalism

Invisible hands is

• the name of Adam Smith's Book

• invisible forces that move the economy

• the government force over the market

Which is a fundamental idea of laissez-faire capitalism

• Workers should own the means of production

• Businesses should gain and lose according to their own effort

• Government should control output and wages

Capitalism characteristics are............................

(THREE answers)

• private property

• freedom of choice

• collective ownership

• competition

• Economic, Social and Political Equality

Market or supply & demand determines prices in Capitalism

• True

• Falso

A present-day example of laissez-faire economics would be

• minimun wage laws

• farm subsidies

• deregulation of the airline industry

Which of the following is NOT a characteristic of capitalism?

• Free market

• Government control

• Economic freedom

• Consumer choice

What does the image suggest about consumer choice in a capitalist economy?

• Consumer choice is restricted

• Consumer choice is dictated by the government

• There is a wide range of consumer choices

• Consumer choice is only for the wealthy

In capitalism, what is considered a measure of success?

• Community service

• Profits

• Employee satisfaction

• Environmental impact

In a pure capitalist system, what determines for whom goods are produced?

• Government policies

• Price

• Social needs

• Environmental impact