My name is Curt Jones and I have always had a passion for delicious ice cream. I discovered a way to freeze ice cream into small dots. I patented the process for making the ice cream and built a plant to make enough ice cream to sell it internationally.

Which economic system am I describing?

My name is Mr. Jones and I have always had a passion for delicious ice cream. I discovered a way to make ice cream that formed tiny dots. I patented the process for making the ice cream and built a plant to make enough ice cream to sell internationally. I decided to build Kiosks, carts to store and sell ice cream, to dealers nationally and internationally. The Kentucky Health Department told me

that each Kiosk that stays in Kentucky must have three sinks. The Health Department in California requires that all the Kiosks have four sinks in them.

Which economic system am I describing?

I am a basket maker in India. The people in my village make beautiful baskets. My grandmother and my mother made baskets. What type of economic system am I describing?

My name is Whitney Smith. I own a toy factory. My employees use many sharp instruments to make the toys. A federal agency called O.S.H.A. (Occupational Health and Safety Administration) visits my factory often to make sure my employees have the safe equipment to use.

Which economic system am I describing?

My name is Derek Jones. I am a bread maker. My father and grandfather are engineers also.

Which economic system am I describing?

My name is Madison Brown. I worked for an ice cream company for many years. I am now 65 years old and have health problems that prevent me from working. I receive a Social Security check each month to help pay my expenses. (Hint: Where is the social security check coming from? The company was owned by a capitalist)

What economic system am I describing?

My name is Morgan Taylor. I went shopping for a new pair of jeans. I refused to buy the jeans because they were too expensive.

Which economic system am I describing?

What is another word for capitalism?

What is a another way of saying "passed down from generation to generation?"

What type Economic System is Communism and Socialism?

Which economic system has business competition based on supply and demand?

Who wrote about Capitalism in "The Wealth of Nations"?

Who wrote about equality and formed the basis of socialism and communism?

What question is NOT an example of the questions that every Economic System must answer?

The government makes ALL economic decisions.

If your parents were peanut farmers, then you would be a peanut farmer also.

Most democratic countries are this.

Cuba and North Korea are close to having this type of system.

Businesses (run by private citizens) determine what goods/services are produced and how they will be made.

Bartering or trading is used.

Businesses make economic decisions, but the government regulates them to make sure they’re safe/fair.