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Flashcards in Fill In The Blank Deck (20)
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1

________ is socialism in its most extreme form

Communism

2

_______ _______ maintains that the national government should be both the central owner and the decision maker in all economic affairs of state

Centralized socialism

3

A nation under extreme state capitalism is known as ______ _____

Welfare state

4

______ ______ is capitalism in its most extreme form and exists only as an economic theory.

Radical capitalism

5

When a nation sells more goods to other nations than it purchased from them, it enjoys a ______ ______ of _______

Favorable balance of trade

6

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

7

In his ______ ______, Marx argued the tank arrangement of the tools of production shot of total state ownership would be counterproductive

Communist manifesto

8

_____ ______ _______ is the form of capitalism that arose from the writings of Adam smith

Classic liberal capitalism

9

_______ _______ are goods and services that benefit all or nearly all of a nations people

Public goods

10

______ _____ is a traditional economic system bridging the gap between capitalism and socialism

Social democracy

11

A person becomes an owner of a part of a corporation by buying shares of its _____.

Stock

12

Private citizens are owners of ______ ______

Private corporations

13

A _______ _______ invests money in the business and has the right to inspect the books and share in the profits of the firm.

Limited partner

14

A _____ _______ is a business firm that has one owner

Sole proprietorship

15

A _____ is a separate entity and recognized by law

Corporation

16

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

17

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

18

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)

19

One of the most well known stock markets is called the New ______ stock ______

New York stock exchange

20

Stock brokers work for free called a _________

Commission