chapter 2 economics
socialism
__ is a system in which government owns and controls some, but not all, productive resources
gosplan
central planning authority in the former Soviet Union
false
communist countries like North Korea and Cuba are examples of mixed economies
Perestroika
fundamental restructuring of the soviet economy introduced by president Mikhail Gorbachev
gap per capita
gross domestic product on a per person basis
socialism tends to give large government services with high tax
how is the saying theres no such thing as a free lunch illustrated in a socialist economy
market of free enterprise
in a __ economy questions of what, how, and for whom to produce are answered by what individuals buy and sell
command
in a ___ economy, production questions are answered by the government
solidarity
independent polish labor union founded by 1980 by lech Wales
keiretsu
independently owned group of Japanese business firms united to regulate competition
true
mixed economies can evolve when societies with different kinds of economies interact
false
mixed economies work to the degree that they embrace democracy
true
socialist economies include aspects of both command and free enterprise systems
Traditional
the way the 19th century Inuit divided the "spoils of the hunt" demonstrates a ____ economy
true
there is always some degree of government involvement in a mixed economy
capitalism can restore a damaged economy
what could be known about capitalism from south Koreas economic growth in the late 20 century
japans government is involved in day to day business management
what is the main difference between Japanese capitalism and capitalism in US
command and socialist economies
what kind of economy offers uniformity in wages regardless of individual productivity
people with political power are threatened by ideology changes
which answer describes people in a nation with a command economy resist shift to a market economy
singapore
which country is an example of a capitalist country
the nationalization of major industries in Chavez vanezuala
which of the following describes a move away from capitalism
it sustains a high degree of uncertainty
which of the following is a disadvantage of a market economy
everyone knows exactly what their function in
which of the following is an advantage of a traditional economy
there are more mixed economies in the world than any other kind
which of these is an accurate statement about mixed economies today
its unemployment rate and GDP per capita are relatively high
which of these statement apply to present day Sweden
a classless society in which everyone works for the common good
which statement best describes the communist ideal
nothing stops government from making basic needs and wants
which statement describes a disadvantage of a command economy
workers
who did Karl Marx believe would be the beneficiaries of socialism
its citizens objected to the nations high rate of taxation
why did Sweden move from socialism to a more mixed economy in the 1980
scarcity
Societies embrace various economic systems to deal with the fundamental problem of _________
