History, 29.09.2021 20:00 usagimiller

3 *Note - Please make sure you have completed the ALL of your 2.03B lesson
BEFORE you attempt this quiz. The lesson worksheet prepares you to answer these
questions.
6
Which of these statements does NOT accurately describe the economic system:
CAPITALISM.
This economic system revolves around private property. Products and services
are provided by individuals who sell on the open market based on supply and
demand.
Definition: an economic system in which the state (government) gains control
over the means of production such as land and natural resources
This economic system follows the concept of "laissez-faire" meaning: "there should
be NO government laws for businesses, so that businesses can make their own decisions about what
prices to charge, what to pay workers, what products to make/sell, etc."
Definition: an economic system where people and businesses work to earn
profits.

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