8.1 - Types of Economic Systems: Capitalism, Socialism, and Mixed Economies
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Practice Questions
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What is capitalism?
💡 Hint: Think about ownership and markets.
Name one advantage of socialism.
💡 Hint: Look for societal benefits.
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Interactive Quizzes
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What characterizes a capitalist economy?
💡 Hint: Think about who owns the production.
True or False: In socialism, the government controls production.
💡 Hint: Recall what distinguishes socialism.
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Challenge Problems
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Evaluate how income distribution affects social stability in a capitalist economy.
💡 Hint: Consider how society reacts to wealth gaps.
Propose a policy that could enhance the effectiveness of a mixed economy.
💡 Hint: Think about the relationship between the government and private sectors.
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