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Chapter 2 Vocab

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Communism   show
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Capital intensive   show
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show gross domestic product on a per person basis; can be expressed in current or constant dollars.  
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show certificates that could be used to purchase government owned property  
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show economic system in which private citizens own and use the factor of production in order to generate profits  
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Privatization   show
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show worst period of economic decline in U.S. history, lasting from approximately 1929 to 1939  
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show economic system characterized by a central authority that makes most of the major economic decisions.  
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show market in which goods and services are sold illegally.  
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Socialism   show
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Mixed Economy   show
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show Shift of an economy, or part of an economy, from private ownership to government ownership.  
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Economic   show
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Market economy   show
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show Forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing.  
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Five year plan   show
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show a measure of population through unit area.  
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Karl Marx   show
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Created by: DFWayne82