2.2 Flashcards
1
Q
centrally planned economy
A
economic system where a government answers the 3 economic questions
2
Q
command economy
A
other name for centrally planned economies
3
Q
communism
A
the political system in which a government controls and owns all resources, means of production and makes all economic decisions
4
Q
socialism
A
Range of economic and political systems based on the belief of wealth being equal
5
Q
authoritatian
A
a form of government that requires strict obedience and restricts its individual’s freedom.
