Fill In The Blank Flashcards
________ is socialism in its most extreme form
Communism
_______ _______ maintains that the national government should be both the central owner and the decision maker in all economic affairs of state
Centralized socialism
A nation under extreme state capitalism is known as ______ _____
Welfare state
______ ______ is capitalism in its most extreme form and exists only as an economic theory.
Radical capitalism
When a nation sells more goods to other nations than it purchased from them, it enjoys a ______ ______ of _______
Favorable balance of trade
Under ______ _____, private citizens own the vast majority of natural resources, financial capital, and labor, but the government freely intervenes in economic decision making
State capitalism
In his ______ ______, Marx argued the tank arrangement of the tools of production shot of total state ownership would be counterproductive
Communist manifesto
_____ ______ _______ is the form of capitalism that arose from the writings of Adam smith
Classic liberal capitalism
_______ _______ are goods and services that benefit all or nearly all of a nations people
Public goods
______ _____ is a traditional economic system bridging the gap between capitalism and socialism
Social democracy
A person becomes an owner of a part of a corporation by buying shares of its _____.
Stock
Private citizens are owners of ______ ______
Private corporations
A _______ _______ invests money in the business and has the right to inspect the books and share in the profits of the firm.
Limited partner
A _____ _______ is a business firm that has one owner
Sole proprietorship
A _____ is a separate entity and recognized by law
Corporation
The ______ and ______ ______ was founded by the government In 1934 to help ensure that corporations provide accurate and current information to the public about their finical situations and their business dealings.
Securities and exchange commission
Those who bye and sell stock for the purpose of taking advantage of short term price changes are engaging in a practice that market analysts call ______
Speculation
In 1896 Charles Dow, one of the founders of the Wall Street journal, developed the most well known stock index, the _____ (give an abbreviation of the full name)
Djia (Dow jones industrial average)
One of the most well known stock markets is called the New ______ stock ______
New York stock exchange
Stock brokers work for free called a _________
Commission
