Economic Models: Communism, Socialism, and Free Enterprise

In which economic model is there little to no interference from the government?

• Socialism

• Free Enterprise

• Communism

• Mercantilism

What does "means of production are communally owned" mean in communism?

• Only the government owns businesses

• Individuals own all businesses

• Everyone shares equally in the business and its profits

• Only the wealthy own businesses

Which economic model states that all contribute to the best of their abilities and receive based on need?

• Free Enterprise

• Socialism

• Communism

• Capitalism

How are profits used in socialism?

• To provide services that give back to the community

• To increase individual wealth

• To fund military expansion

• To pay only business owners

In which model do individuals keep their own profits?

• Communism

• Socialism

• Free Enterprise

• Feudalism

In socialism, what is the purpose of using profits?

• To increase individual wealth

• To provide services that benefit the community

• To fund wars

• To pay only business owners

Which economic model is based on communal ownership of production?

• Free Enterprise

• Socialism

• Communism

• Capitalism

Which economic model allows for private ownership and profit?

• Communism

• Socialism

• Free Enterprise

• Feudalism

What is the main focus of free enterprise?

• Government control

• Community ownership

• Individual ownership and profit

• Equal sharing of resources

Which model would most likely have the least government involvement in business?

• Socialism

• Communism

• Free Enterprise

• Mercantilism