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Questions and Answers
What is the mainstay of capitalism?
What is the mainstay of capitalism?
- Collective ownership
- Private property (correct)
- Social welfare programs
- Government control
What is the driving force of capitalism?
What is the driving force of capitalism?
- Social equality
- Consumer satisfaction
- Government intervention
- Profit motive (correct)
In a capitalist economy, who determines economic activity?
In a capitalist economy, who determines economic activity?
- International organizations
- Government authorities
- Consumers and businesses (correct)
- Trade unions
Which of the following is a characteristic of a capitalist economy?
Which of the following is a characteristic of a capitalist economy?
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Which countries exemplify some features of a capitalist economy?
Which countries exemplify some features of a capitalist economy?
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Study Notes
Characteristics of Capitalism
- The mainstay of capitalism is private ownership of the means of production and creation of goods and services for profit.
- The driving force of capitalism is the pursuit of profit.
Economic Decision-Making in Capitalism
- In a capitalist economy, individuals and firms, rather than the government, determine economic activity.
Characteristics of a Capitalist Economy
- A characteristic of a capitalist economy is the creation of goods and services for profit.
Examples of Capitalist Economies
- Countries that exemplify some features of a capitalist economy include the United States, Canada, and the United Kingdom.
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