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15 Cards in this Set
- Front
- Back
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what ecomonic system has property that is collectively owned by the people who live in a classless society
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communism, command, socialism
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what ecomonic system has everyone consuming according to their needs?
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Communism, command, traditional, subsistence
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what ecomonic system is based on the idea that it is governments role to distribute resources in ways deemed to be in the best interest of society?
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communism, command, socialism
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what ecomonic system is based on the idea that people naturally do whats in their best interst?
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capitilism and market
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what ecomonic system is an extreme form of socialism that gives government ablsoute control over every aspect of the economy?
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communism and command
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what ecomonic system has job security because the government determines each persons career and where he or she will work?
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communism and command
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what ecomonic system do people usually pay higher taxes in these societies, the governemnt uses tax revenues to pay for programs and services they supply to the people, such as free childcare, oensions, and education?
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socialism and command
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what ecomonic system has critics of this economic system saying it does not meet everyone's needs, the economy produces only goods and services that people can afford, doesn't produce things for the whole society: such as medical care, schools, or a justice system, the governemnt must supply these things, people without jobs or incomes are left out?
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capitilism and market
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what ecomonic system have consumers that have the greatest influence over what is produced
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capitilism and market
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what ecomonic system has societies that have striven to provide goods and services to everyone, including thouse who cannot pay for them, As a result: people are less likely to be left out if they are unemployed, thanks to unemployment benefits from the government?
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socialism and command
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what ecomonic system has countries that strive to become storng competitors in global trade?
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capitilism and market
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what ecomonic system have countries that ban global trade, whishing to remain as isolated as possible so thta their citizens are not influenced by foreign ideas?
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comminism and command
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what ecomonic system have jobs that are passed down through habit, custom, and tradition?
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tradititional and subsistence
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what ecomonic system can the whole economy change quickly because it is directed by a central authority?
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communism and comand
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The Soviet Union changed quickly from a farming society to what under stallon?
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industrial power
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