Capitalist Economy

Q.

What Are the 5 Basic Economic Problems?

Q.

What Are the 3 Main Economic Systems?

Q. Match the three economic questions with their possible answers.

1. Machineries
2. Luxury car
3. Rich people

Q. An economic system where private individuals or companies decide what, how, and for whom to produce is known as a .

1. socialist economy
2. capitalist economy
3. mixed economy
4. welfare economy

Q. Identify the economic system in which the ownership and management of the means of production are in control of private players?

1. Socialist economy
2. Capitalist economy
3. Mixed economy
4. Command economy

Q. Briefly explain three economic problems that each country faces.

Q. I let the private individuals or companies decide what, how, and for whom to produce. I am adopted by Germany, Japan, and the USA.

Who am I?

1. I am mixed economy.
2. I am socialist economy.
3. I am capitalist economy.
4. I am democratic economy.

Q. Which among these questions is not answered by an economy?

1. What type of product to produce and in what quantity?
2. For whom to produce?
3. 
   Who should produce?
4. How to produce?