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WorksheetsEconomic Systems
Total questions: 11
Worksheet time: 7mins
How a nation allows business to operate...
Economic systems
economy
capitalism
government
Name a factor of production
(a)
Work involved in the company
labor
entrepreneur
resources
capital
Things needed to run a business (money, buildings, machinery)
labor
CEO
resources
capital
Raw materials that make products
labor
businesses
resources
capital
Business creator/inventor (Ninja, Steve Jobs, Mr. Beast)
labor
entrepreneur
resources
capital
Businesses set prices, compete, with little government control
capitalism
socialism
marxism
communism
government owns certain businesses and services (healthcare, education); private ownership is allowed
capitalism
socialism
marxism
communism
government owns ALL of the businesses
dictatorship
socialism
democracy
communism
Manufacturing industry makes ________ goods (cars, toys)
tangible
intangible
resources
capitalism
Service industry makes ________ goods (car wash, haircut)
tangible
intangible
resources
capitalism
