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In which economic system do regular people and private businesses own most of the property and make the decisions?
Socialism
Capitalism (Free Market)
A Command Economy
Communism
In a capitalist system like the United States, what is the main reason someone works hard to start a new business?
Because the president told them to
To make a profit (earn money)
To make sure everyone else gets free stuff
Because they want to pay more taxes
a country where the government owns hospitals and the train system, but you are still allowed to own a small bussiness
Pure Capitalism
Communism
A Traditional Economy
Socialism
What is a big goal of socialism?
To make sure no one is allowed to own anything
To make sure the rich get richer
To let businesses do whatever they want with zero rule
making things fairer by giving everyone free healthcare or college
Which economic system gives the government the MOST control, ?
Communism
Capitalism
The Free Market
Socialism
In a strict communist economy, who decides how many new video game consoles will be built this year?
Private tech companies like Sony or Microsoft
The people who buy video games
The government
The workers in the factory
What does "economic freedom" mean?
When the government gives you a free house
The freedom to choose your own job, start a business, and buy what you want
The rule that you don't have to pay for video games
Getting all your groceries for free
Which system gives people the HIGHEST amount of economic freedom?
Communism
Capitalism (The Free Market)
A Command Economy
Socialism
In class, we talked about "standard of living." What does that mean?
The grades you get in middle school
How many rules the government makes you follow
How comfortable your life is and how much stuff you are able to buy
How tall you are required to build your house
Why do capitalist countries usually have so many cool new inventions (like better smartphones every year)?
The government forces scientists to invent them
Because it is illegal to use old technology
Businesses compete with each other to make the best products
Because taxes pay for all new phones
What is a major problem that has happened in heavily controlled communist countries in the past?
Everyone became a billionaire
Businesses competed too much
People had too many choices of what to buy at the store
Store shelves were often empty, and it was hard to get basic things
You start a lawn-mowing business. You buy the mower, find your customers, and keep all the money you earn. This is an e
Communism
Government control
A Command Economy
Capitalism (The Free Market)
If a government decides to take over all the businesses in the country, make everyone's salary exactly the equitable...
Capitalist system
Communist system
Republic
Free Market system
Which of the following is an economic choice you get to make because you live in a free market?
Comparing prices to find the best deal on a new pair of sneakers
Being forced to buy your clothes from only one state-owned store
Giving all your
the government to tell you what your career will be when you grow up
