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2.2 Practice Economic Structures

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2.2 Practice Economic Structures

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ramnaw1226
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We take content rights seriously. If you suspect this is your content, claim it here.
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Practice It: 2.

2 Economic Structures
Directions: Please type your answer in a different color or highlight it or italicize it 😊to
make it easier for me to grade.

Read each scenario below and decide whether it describes capitalism, socialism, or
communism. When you are done, you should have 4 capitalist scenarios, 6 socialist scenarios,
and 5 communist scenarios.
1. A person starts up a business. capitalist
2. No money exists.
3. The government taxes over fifty percent of your income.
4. Health care is absolutely free; it is funded by taxes and the state.
5. Health care is absolutely free; it is provided for the people by the people.
6. People own their houses, cars, stereos, and other personal items.
7. The people expect to be compensated during times of unemployment.
8. No one is ever unemployed.
9. Rich people pay more taxes than poor people do.
10. This society bases its democracy upon the lack of classes.
11. There is a large amount of government regulation in industry.
12. The government is responsible for maintenance of the economy.
13. The government has created a large welfare state.
14. There is no voting in this society.
15. Societal advancement is based on accumulation of wealth.
In the United States people share many broad economic and social goals. Match each
statement with the goal it describes.

1. ______ It is illegal to discriminate on the basis of age,


sex, race, religion, or disability in employment. a. Economic Efficiency
2. ______ Most people want their economic system to
provide as many jobs as possible. b. Economic Equity
3. ______ Most people hope to have a better job, a
newer car, their own home, and a number of other c. Economic Growth
things in the future.
4. ______ Business owners like the freedom to choose d. Economic Security
when, where, and what they produce.
5. ______ Americans desire protection from adverse e. Economic Freedom
economic events such as layoffs and illnesses, injuries, and Stability
or disabilities.
6. ______ If resources are wasted, fewer goods and f. Full Employment
services can be produced, fewer wants and needs can

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