EMS Flashcards
1
Q
What are the 3 main role players in each economic system?
A
State (Government)
Employers (Boss)
Employees (Worker)
2
Q
Another name for Capitalism.
A
Free Market
3
Q
Who started communism and why?
A
Karl Marx
Because it was unfair, the rich were getting richer and the poor poorer and because workers were being exploited.
4
Q
Communism is referred to as a … Economy.
A
Planned
5
Q
Name and explain 5 primitive forms of money.
A
Wampum- Shell beads, North America Fei Stones- Discs, Yap Cowrie Shells and Cattle- Africa and Asia Manilas- Metal bangles, West Africa Whale Teeth- Figi
6
Q
Name the 4 main banks in SA.
A
ABSA (Amalgamated Banks of South Africa)
Standard Bank
FNB (First National Bank)
Nedbank
