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Economics

Economics and Government; Communism, Capitalism, Socialism

QuestionAnswer
This is an economic system based on Private Ownership and the uses of Capital Capitalism
Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods Socialism
A way of organizing a society in which the government owns the things that are used to make and transport products (such as land, oil, factories, ships, etc.) Communism
System of social organization in which private property and the distribution of income are subject to social control; Socialism
Political and economic system in which most forms of economically valuable property and resources are owned and controlled by the public and the state. Capitalism
System of social organization in which private property and the distribution of income are subject to social control; also, the political movements aimed at that system into practice. Socialism
Which economic system is described below? 1. Private Ownership. 2. Profit Motive. 3. Market Economy Capitalism
economic system in which there is little or no private ownership - property is held by the community rather than by individuals. All economic activity is controlled by the government, Communism
Everyone works for the country as best as they can. They are given what they NEED, not what they WANT. Communism
"a form of economic, industrial, and social organization of society involving ownership, control, and direction of production by privately owned business organizations." Capitalism
It promotes privately owned property and institutions. This enables one to have equal opportunity in the economy. It is an economic system of individual reward where the common man can better his economic and social standing. Capitalism
It is an economic system of individual reward where the common man can better his economic and social standing. It has been a long standing working form of economic means and distribution, not only in Europe, but in the United States. Capitalism
"an economic system aiming at public or government ownership of means, of production, etc." Socialism
an economic system run publicly via the government, where the government dictates economic policies and there is no private ownership. Socialism
The people through the government own and operate the economic system. Socialism
"the theory of a social-economic system in which everything is held in common, private property being abolished." Communism
The economic system runs and owns everything. No such thing as an individual owning anything, not even their clothing. Communism is a class free society (in theory). All work for the good of the society and labor at what one does best for community welfar Communism
Karl Marx's model of this had the political system (government) "wither away" and the economic-social system be self-sustaining for everything is held in common (by the public). Communism
Created by: scraig29