Capitalism vs communism/socialism
identify which of the following characteristics are ass...
History, 17.12.2019 19:31 tintinayeir2567
Capitalism vs communism/socialism
identify which of the following characteristics are associated with capitalism and or socialism
directions: mark items that are related to capitalism with a "c" and items related to
socialism with an "s"
1. promotes social equality
2. results in some social inequality
3. government owns the means of production
4. business owners control the means of production
5. prices are driven by the supply and demand of a good/service
6. prices are set and controlled by the government
7. wealth is equally redistributed to all members of society
8. income is earned for work completed, not for being a member of society
9. business owners are motivated to offer a good/service at the cheapest
possible price
10. relies on free market conditions (governments don't intervene)
11.low taxes
12. very high taxes
13. most people are employed by private business owners
14. most people are employed by the government
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