Economic Systems EL
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards1/10
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
11 Terms
Economy
A system by which goods and services are produced and distributed
Distribution
how things are given out
Capitalism
An economic system where people own the land, money, and businesses. Based on PROFITS
Economic system
the way a society makes and distribute goods and services
Goods and Services
the objects and actions that people value and produce to satisfy human wants for money
Profits
Money you make after you pay all of your costs
Socialism
A system where the government controls some parts of society to make things more even for people. (TAXES)
Communism
A system where the government controls all parts of society (land, workers, money)
Taxes
Required payments to a government
society
A community of people who share a common culture
Not studied (10)
You haven't studied these terms yet!
