Capatilism in the U.S
Vocabulary
Origins of U.S Capitalism
6 features of U.S Economy
Adam Smith
100
How many features are in the U.S economy?
What is 6
100
What vocabulary word means " The right to own, use, and sell property"?
What is private property rights
100
Adam Smith published a book called what?
What is The Wealth of Nations.
100
What economic feature is a place where buyers and sellers interact?
What is Market.
100
What did Adam Smith support?
What is "Laissez-faire economics".
200
What is the 5th factor of capitalism?
What is Competiton
200
What vocabulary word means "Economic systems in which private citizens own the factors of production and decide how to use them to make money"?
What is capitalism
200
What language is "Laissez-faire" from?
What is French.
200
What happens when buyers and sellers choose to take part in an exchange?
What is Voluntary Exchange.
200
Smiths ideas helped shape the ideas of whom?
What is many of the nations founders.
300
What does Economic Freedom enable the Americans to do?
What is the right to buy and sell the factors of production.
300
What vocabulary word means " When buyers and sellers choose to take part in an exchange" ?
What is voluntary exchange
300
Name three of the listed nations founders.
What is Alexander Hamilton, Thomas Jefferson, and James Madison.
300
What is profit motive?
What is the desire to earn money by creating and selling goods and services.
300
He believed that what made poeple work?
What is self interest, or well being.
400
Free Enterprise has helped the U.S economy grow to become what?
What is the wealthiest economy in the world.
400
What vocabulary word means " The desire to earn money by creating and selling goods and services"?
What is profit motive
400
What does the term "Laissez-faire" mean?
What is "to leave alone".
400
What rights motivate people to save,invest and take care of their property?
What is private property rights.
400
In economics it means that government should what?
What is keep its hands off of the marketplace.
500
Name two businesses that compete to sell similar products at the best price.
What is Mcdonalds and Wendys, Publix and Winn 'Dixie, Walmart and Target... Etc.
500
What vocabulary word means " Economic system in which individuals and businesses are allowed to compete for profit with little government intrusion"?
What is free enterprise
500
Adam Smith was a Scottish ________ and _________.
What is philosopher and economist.
500
What is a profit?
What is the money left over from the sale goods or services after all the costs of making it have been paid.
500
He supported the idea that the market works its best how?
What is on its own, without government involvment.
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