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Section 2 review

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

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

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