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Section 2 review

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

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

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