Economic Systems
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Created by:
EmmaRodgers1997 on November 29, 2011
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3 terms
Terms | Definitions |
|---|---|
 Capitalism | -private owners of means of productions -decisions made by consumers and businesses |
| Socialism | -public and private ownership of the means of production. -decisions made by businesses, consumers, and the government |
| Communism | -public ownership of the means of production. -decisions by government determine economic activity. |
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