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5 Written Questions

5 Matching Questions

  1. industrialization
  2. collectivization
  3. developing nation
  4. private enterprise
  5. capitalism
  1. a the process of taking over privately owned property
  2. b the capitalist system
  3. c a nation whose economy is based on farming and the export of natural resources
  4. d the growth of industries such as manufacturing
  5. e a system in which buyers and sellers make their own choices about what to produce , how much to produce, and for whom

5 Multiple Choice Questions

  1. a characteristic of socialism in which the central government takes over certain industries , such as transportation and steel
  2. a combination of small farms that have been taken over by the government
  3. an economic system in which the government owns the basic means of production and decides how resources should be used
  4. a person who is organizes the other factors of production in order to produce goods and services and who risks his or her capital to run and own and run a business
  5. an economy in which buyers and sellers decide what to make, how much to make, and for whom

5 True/False Questions

  1. traditional economyan economy in which buyers and sellers decide what to make, how much to make, and for whom

          

  2. free tradetrade without barriers

          

  3. central planninga person who is organizes the other factors of production in order to produce goods and services and who risks his or her capital to run and own and run a business

          

  4. technologythe practical application of science to commerce or industry

          

  5. trade barriertrade without barriers

          

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