Institutions | Institutions 2 | Barterrific | all mixed up | @ the Movies |
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private property
A capitalist system is based on this kind of property.
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False
True or False: Slavery is a part of a capitalist system.
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money
By definition, barter trades do not include this.
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Slavery
This is a system where some human beings are considered the legal property of others.
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barter
I'll trade you a movie ticket for a dinner. This kind of trade is an example of ___________.
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capital goods (producer goods)
In a purely socialist system, the government owns all of these kinds of goods.
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market
Workers are free to choose their jobs in a __________(6 letters) economy.
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Direct
_________ Exchange is barter, when people trade goods that they directly value.
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Capitalism, Socialism, Mixed Economy
What are the 3 kinds of economies discussed in the book?
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No, he doesn't. He works for the British Royalty
Does James Bond, (Agent 007) find work in the free market?
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private sector
This sector of the economy is owned by individuals
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A mixed economy
A government both allows free choices and limits choices in this kind of economy.
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subjective
Both parties in a voluntary trade can benefit from it because value is ___________.
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North Korea
Which country (discussed in class) has a completely government run economy?
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Capitalism
(Free market, free enterprise are also ok)
In the Hunger Games, the economy of Panem can NOT be described as:
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public sector
This sector of the economy is run by the government
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Owner
This person has the legal right to decide how to use a good.
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A red paperclip
A young man from Canada traded up to a house starting with what little thing.
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mixed
China and the United States are both examples of __________(5 letters) economies.
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Opportunity Cost
In the Hunger Games, when Katniss chooses Peeta instead of Gale, this is an example of __________.
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Free enterprise
People often describe a capitalist system as having this kind of enterprise.
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Capitalists
Karl Marx used this word to negatively descsribe private owners of capital.
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a price
By definition, this is how many units of one items are given up to get a unit of a different item.
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2 to 3 USD per month
The average North Korean earns about how much money per month?
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free
In Pirates of the Carbbean, pirates' primary business are not ________ enterprise.
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