Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

16 Cards in this Set

  • Front
  • Back
Market System
A system in which these questions primarily are answered by individuals and businesses.
Command System
A system in which those decisions are generally made by the government.
Market Socialism *Democratic socialism*
is identified by government control of major industries, with some decisions made by individuals.
defined a nation's power in terms of its supply of gold and silver.
Indicative Planning
providing economic information and setting goals that are not mandatory
a policy in which the government purchases and takes over the operation of a private firm.
rise in middle class powers in the late 1700's.
The working class provided the labor needed for the production process in return for the very low wages.
which the state took control of land to form large state-run farms.
was an effort to move the economy toward market socialism
Great Leap Forward
1953 chinese communists push for greater economic growth.
Peoples's Communes
Groups of collective farms
Cultural Revolution
1966 thru 1967 china's set back into chaos.
Four Modernizations
targeted modernization in agriculture, industry, science and technology, and defense.
Household Responsibility System
permits peasants to lease state-owned land and to pay their rent by delivering a portion of their crop to the government.
Tiananmen Square Massacre
killings of unarmed proteesters by force.