Advantages of Capitalism

I only make $20,000 a year but the teacher who lives down the street from me started her own YouTube Channel and now makes millions of dollars a year.

• Capitalism

• Communism

Rapid Economic Growth and no government involvement is an Advantage of what System?

Which economic system promotes competition that results in quality goods at lower prices?

• Communism

• Capitalism

• Socialism

Select the advantages of Free-Enterprise Capitalism. (Choose all that apply)

• Individual Freedom

• Adapting to Change

• Creation of Wealth

• Variety of Goods

Which economic system is characterized by private ownership and the goal of profit maximization?

• Capitalism

• Socialism

• Communism

• Feudalism

What is one of the main advantages of capitalism in terms of consumer choice?

• Limited product options

• Variety of goods and services

• Government-controlled prices

• Uniformity in products

How does capitalism encourage innovation?

• Through government mandates

• By rewarding successful entrepreneurs with profits

• By limiting competition

• By providing state-funded research

In a capitalist economy, who primarily decides what goods and services are produced?

• The government

• Consumers and producers

• International organizations

• Local councils

What is a key advantage of capitalism related to economic growth?

• Slow and steady growth

• Rapid economic growth

• Stagnation

• Negative growth

Which of the following is a benefit of competition in a capitalist system?

• Higher prices

• Lower quality

• Innovation and efficiency

• Monopolies