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WorksheetsCapitalism and Socialism
Total questions: 10
Worksheet time: 29mins
Capitalism promotes competition with other products and businesses.
True
False
Socialism distributes goods to each individual's needs.
True
False
In a socialist society, every person would be unequal, regardless of race, gender, religion, or nationality.
True
False
In Capitalism, businesses are constantly competing to have the most customers and to make the most money and individuals are focused on what's best for themselves.
True
False
Generally speaking, the more socialist a country is the higher the taxes will be.
True
False
What best describes a mixed economy:
An economic system that protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims such as old age pension plans.
An economic system combining private and public businesses.
An economic system that combines aspects of both capitalism and socialism.
Most modern economies such as Canada and the US because they feature a combination of two or more economic systems (Capitalism and Socialism).
All of the above are true of a market economy.
