Podcast
Questions and Answers
Which economic system involves the government owning and controlling the means of production?
Which economic system involves the government owning and controlling the means of production?
- Socialism
- Capitalism
- Communism (correct)
- Global economy
What economic system is characterized by private property and prices determining production?
What economic system is characterized by private property and prices determining production?
- Socialism
- Capitalism (correct)
- Communism
- Global economy
What term is used to describe the study of the relationship between a nation's politics and its economy?
What term is used to describe the study of the relationship between a nation's politics and its economy?
- Economic analysis
- Global economy
- Economic politics
- Political economy (correct)
Which economist is associated with the theory of capitalism and the 'invisible hand'?
Which economist is associated with the theory of capitalism and the 'invisible hand'?
What term is used to describe the study of the relationship between a nation's politics and its economy?
What term is used to describe the study of the relationship between a nation's politics and its economy?
What type of economy involves the majority of resources being owned and controlled by the government?
What type of economy involves the majority of resources being owned and controlled by the government?
Which economist is associated with the theory of capitalism and the 'invisible hand'?
Which economist is associated with the theory of capitalism and the 'invisible hand'?
What type of economy involves the majority of resources being owned and controlled by the government?
What type of economy involves the majority of resources being owned and controlled by the government?
Which economic system is characterized by private property and prices determining production?
Which economic system is characterized by private property and prices determining production?
What term is used to describe the economic system where the government owns and controls some, but not all, of the means of production?
What term is used to describe the economic system where the government owns and controls some, but not all, of the means of production?
