Economy system 

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A welfare tax system provides a safety-net in which system?

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Economics

7th

20 Terms

1

A welfare tax system provides a safety-net in which system?

Socialism

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2

Which system's goal is to create competition?

Capitalism

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3

In which system is the economic activity determined by shoppers and companies?

Capitalism

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4

Which system(s) has never been achieved in true and pure form?

All of them

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5

In which system are the decisions about economic activity determined by a community or public planning committee?

Socialism

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6

Economics is the process by which ____ are produced, bought and sold.

Good and Services

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7

Which system's goal is a classless society?

Communism

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8

In which system is the means of production owned privately?

Capitalism

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9

Which system is designed to eliminate extreme poverty?

Socialism

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10

In a "pure" communism society, who are the wealthiest and most powerful people?

No one - every member of society is supposed to be equal

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11

In a real-life communist society, who are the wealthiest and most powerful people?

Whoever controls the government

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12

What societal problem did Karl Marx attempt to address in his manifesto?

The exploitation of the poor by the rich

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13

According to Marx, workers would take control of governments through

Violent revolution

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14

Place the following events in sequence: A) Russia gets a communist government; B) The Communist Manifesto is written; C) China blends capitalism with communism

B, A, C

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15

What is the best synonym for "centralized economy?"

Planned economy

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16

What can you infer about the reason why communism became so popular in the late 19th and early 20th centuries?

Working people faced extremely difficult conditions back then

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17

In a Communist country, workers have no ________ to work harder.

Incentive

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18

United states is a _____ Economy

Mixed

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19

The U.S has both elements of ____ and ___

Capitalism and Socialism

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20

China’s economy has both elements of ______ and_______.

Communism and Capitalism

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