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Competition
Market Economy
Communism (resources are shared equally among all people in society)
Planned Economy
Marxism
Planned Economy
Socialist Leaning (more gov/public)
Planned Economy
Capitalist Leaning (less gov/private)
Market Economy
Equality of Opportunity (everyone gets the same opportunity)
Market Economy
Equality of Outcome (everyone has the same income/amount of money, no matter how hard they work, they all have the same outcome)
Planned Economy
Command Economy
Planned Economy
Public Enterprise
Planned Economy
Community good/welfare
Planned Economy
Economic equality
Planned Economy
Society
Planned Economy
Government ownership of means of production
Planned Economy
Capitalist Economy
Market Economy
Laissez-Faire (let the economy do its own thing)
Market Economy
Private Enterprise
Market Economy
Individualism
Market Economy
Freedom
Market Economy
Choice
Market Economy
Individual ownership
Market Economy
Left Wing
Planned Economy
Right wing
Market Economy
High degree of government control
Planned Economy
Low degree of government control
Market Economy
High level of social service
Planned Economy
Low level of social services
Market Economy
Higher taxes
Planned Economy
Lower Taxes
Market Economy
Basic principles that a __________economy relies on: Profit, freedom, choice, individualism
Market Economy
Basic principles that a __________ economy relies on: Equality, security, community, society
Planned Economy
Enjoying both the benefits of freedom and security is what we attempt to do with a _________ economy.
Mixed Economy
Profit is a pillar/value of a ___________ economy:
Market economy
Private ownership is a pillar/value of a ___________ economy:
Market Economy
A self-regulating market is a pillar/value of a ___________ economy:
Market Economy
Freedom is a pillar/value of a ___________ economy:
Market Economy
Individualism(consumers choose) is a pillar/value of a ___________ economy:
Market Economy
Competition is a pillar/value of a ___________ economy:
Market Economy
Equality is a pillar/value of a ___________ economy:
Planned Economy
Common good is a pillar/value of a ___________ economy:
Planned Economy
Public ownership of everything is a pillar/value of a ___________ economy:
Planned Economy
Having the government controlling the factors of production is a pillar/value of a ___________ economy:
Planned Economy
Cooperation is a pillar/value of a ___________ economy:
Planned Economy