Economies
This system is based on customs, traditions, and rituals
Traditional
What has Argentina done to its large amount of natural resources to boast their economy
Privatized or Privatization
Policy placed by China, that forced farmers onto communal farms
Great Leap Forward
WHAT, HOW, and FOR WHOM are answered by people who make supple and demand decision for their best interest, this means people have what to spend their money
Freedom
A market where goods are sold illegally, often during shortages
Black
This system is based on no government and Karl Marx
Communist
Who has benefited from funding suppling capital from Chile to boast their economy
New Entrepreneurs
DAILY DOUBLE
Energy, banking, and defense
True or False, Before the Great Depression, was the U.S. a very free market
True
A statistic showing how much each person provides if a country's GDP was evenly distributed
This system prices are determined by buyers and sellers interacting in Supply and Demand
Market
DAILY DOUBLE
Socialistic state
Who took power in 1985 in Russia and implemented perestroika to restructure the economy
Mikhail Gorbachev
DAILY DOUBLE
Economic and Political
The process of converting state-owned property into private ownership
Privatization
This system is based on private ownership and profit
Capitalism
What was formed in 1993 as an association of European nations
European Union
What was the central authority in Soviet Russia for devising plans and
Gosplan
Who's philosophy was that the workers would rise and overthrow the owners
Karl Marx
Most distinguishing feature of capitalism
Private ownership
This system combines tradition, government involvement, and market forces
Mixed
What caused Hong Kong to be a different economy than other parts of China
It was a British Colony
In the 1970s China replaced many communist ideologies with what
Capitalistic ones
What do Mixed economy countries try to reap all of
Benefits
Capitalism is the most powerful engine for generating what in the world
Wealth