Economic Systems and Cell Biology

Flashcards covering key concepts in economic systems and cell biology.

What are the main characteristics of a centrally planned economy?

No private ownership, resources are shared, state entrepreneurship.

What are the advantages of a centrally planned economy?

Health equality, full employment, resources are not wasted.

What are the disadvantages of a centrally planned economy?

Lack of freedom, lack of motivation, low economic growth.

What defines market economy/capitalism?

Production is privately owned, government does not intervene, profit motivation.

What are the advantages of capitalism?

High economic growth, high efficiency, wide range of choices.

What are the disadvantages of capitalism?

Market failure, wealth inequality, selfishness.

What is a mixed economic system?

A combination of market economy and centrally planned economy that incorporates advantages from both systems.

What are the advantages of a mixed economic system?

Promotes economic growth, provides freedom of choice and ownership, improves standards of living.

What is an economic system?

The method by which a country produces goods and services and distributes resources.

Who is known as the father of capitalism?

Adam Smith.

What historical event influenced the establishment of planned economies?

The Industrial Revolution in Europe in the 1800s.

What is the function of the nucleus in a cell?

It controls activities within the cell and contains DNA that provides genetic information.

What role do vacuoles play in plant cells?

Vacuoles store substances and help maintain turgidity, supporting the plant structure.

What is the cell membrane's primary function?

It surrounds the cell and controls the movement of substances in and out.

Compare the shape of plant and animal cells.

Plant cells have a regular rectangular shape while animal cells are more irregular.

What is chlorophyll and its role in plant cells?

A substance in chloroplasts that enables photosynthesis, allowing plants to make food.