Concepts of Capitalism

Question or Hint Answer or Word
  1. Without looking it up, what is your current understanding of the definition/meaning of Capitalism?
  2. What are two positives of capitalism? Freedom of choice, private property (wrong answers: The economy and your life is totally controlled by the government, Everyone gets an equal amount, You can work wherever, shop wherever, buy whatever.)
  3. People are given money according to their contribution and needs in which economic system? Socialism (wrong answers: Mutualism, Communism, Capitalism)
  4. ______________get to make the economic decisions under capitalism. Individuals (wrong answers: The President , Government, Literally no one)
  5. What is the biggest fault of capitalism? The likelihood of monopolies (wrong answers: Everyone has their needs met, It's harder to make ends meet, Everyone is allowed to make as much or as little as they want)
  6. Capitalism promotes competition with other products and businesses. True (wrong answers: False)
  7. In which economic system is the GOVERNMENT in control of land, resources, and factories? Communism (wrong answers: Socialism, Capitalism, Symbolism)

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