Concepts of Capitalism
-
Without looking it up, what is your current understanding of the definition/meaning of Capitalism?
-
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.)
-
People are given money according to their contribution and needs in which economic system?
Socialism
(wrong answers:
Mutualism,
Communism,
Capitalism)
-
______________get to make the economic decisions under capitalism.
Individuals
(wrong answers:
The President ,
Government,
Literally no one)
-
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)
-
Capitalism promotes competition with other products and businesses.
True
(wrong answers:
False)
-
In which economic system is the GOVERNMENT in control of land, resources, and factories?
Communism
(wrong answers:
Socialism,
Capitalism,
Symbolism)