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Section 2 review

Author: Sutton Mary
Description:
Keywords: , , , , , , online teaching

Content:
Definitions:
0. economic freedom
1. Mixed Economy
2. Socialism
3. Proletariat
4. liberalization
5. Adam Smith
6. laissez-faire
7. Karl Marx
8. Quotas
9. market
10. Economic System
11. Traditional Economy
12. Market Economy
13. Command Economy
14. competition
15. tariff

Answers:
0. right to choose
1. Wrote %27Wealth of Nations%27 Father of Capitalism
2. Way a society organizes and produces goods/ services
3. place were goods/ services freely exchanged
4. imposed fee
5. Only earn enough to stay alive
6. Wrote %27Communist Manifesto%27
7. Consumers, businesses, and government work together.
8. Consumers determine what to produce and businesses decide how/whom
9. money handed out
10. Every decision is based off of custom or habit.
11. Workers according to Karl Marx
12. Government controls what, how, and for whom to produce.
13. incentive for others to lower price
14. Government minimizes interference
15. less strict
.