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20 Cards in this Set
- Front
- Back
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Barter
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Based on need
Goods exchanged |
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Trade
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buying, selling, exchanging commodities
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Money Economy
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Buy and sell
Coin holds value ex. Ancient China Consequences: banking and different currencies |
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Feudalism
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Land grants for loyalty
powerful kinds and nobles |
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Mercantilism
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Wealth and power
as wealthy as possible Sell more than you buy |
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Capitalism
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up to individual
free market competition |
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Communism
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no classes
totalitarian government |
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socialism
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society has control.
gov. regulation |
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Ownership of land and production
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Cap: private
S: government Com: community |
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Market
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Cap: Competition, supply/demand,free market
s: government planned Com: None |
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Determines production
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Cap: Consumer demand
S: governement Com: community |
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Taxes
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Cap:low tax rate
S: high tax rate Com: no tax rate |
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social class
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Cap: wealth and power
S: governement over everyone else Com: equality |
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Government
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Cap:democratic
S: authoritarian Com: none |
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Prices
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Cap:supply and demand
S:gov. set Com:none, no money |
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efficiency
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Cap:good, changing
S:fair, society goals Com:undetermined |
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incentive
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Cap:advancement
S:fair Com:limited, no reward |
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employment
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Cap:high levels unemployed
S:low levels unemployed Com:all employed |
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care for citizens
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Cap:individuals
S:gov. responsibility Com:community responsibility |
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competition
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Cap:life force
S:reduced Com:none |
