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Laabri

Economic Systems - Capitalism and Socialism

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Last updated 12 months ago
12 Nsɛmmisa
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Asemmisa {{asɛmmisaAhyɛnsode}}
12.

Match the items with the correct economist

  • Supply and Demand

  • The Wealth of Nations

  • Competition

  • Socialism

  • Communist Manifesto

  • Scotland

  • Prussia

  • Class Struggle

  • Adam Smith

  • Karl Marx

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Asemmisa {{asɛmmisaAhyɛnsode}}
1.

Where is Adam Smith from?

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2.

What was his job?

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3.

Any economist is an expert on business and finances

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4.

Smith wrote a book called the Communist Manifesto.

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5.
Draggable itemarrow_right_altCorresponding Item

Invisible Hand

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Smith's belief that wealth came from businesses competing with each other.

Competition

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Bussiness should be free to do what they want without government influence or rules

Individualism

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the idea that the amount of goods and people's desire to have them should determine what is produced - Supply and Demand

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6.

Where was Karl Marx born?

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7.

Which best describes Marx's views on the lives of workers during the Industrial Revolution?

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8.

Which book was written by Karl Marx?

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9.

Class struggle is the competition between the rich and poor.

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10.

Marx believed that if you worked hard and made enough money you should buy a big house with a big yard.

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11.

The quote at the bottom of the infographic means -