8.1.4.3 - Disadvantages
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Practice Questions
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What is capitalism?
💡 Hint: Think about who owns businesses in this system.
Name one disadvantage of socialism.
💡 Hint: Consider how the government’s control affects businesses' desire to innovate.
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Interactive Quizzes
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What economic system is characterized by private ownership and market-driven pricing?
💡 Hint: Think about who has control over resources in this system.
True or False: Socialism promotes competition among businesses.
💡 Hint: Consider the implications of government ownership.
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Challenge Problems
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Examine how income inequality in a capitalist society can influence political stability across different socioeconomic groups. Provide examples.
💡 Hint: Consider historical events that triggered political reforms.
Critically assess the efficiency of public sector versus private sector ventures in a mixed economy. What are the advantages and disadvantages of each?
💡 Hint: Reflect on how each sector responds differently to consumer needs.
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