Question

8. Factors of production consist of land, labor, capital and enterprise needed to provide goods and services. A. True B. False 9. Karl Marx was the father of capitalism. A. True B. False 10. Communist economies have been marked by low standards of living, critical shortages of consumer goods, high prices, corruption and little freedom. A. True B. False 11. Capitalism is an economic system in which individuals own and operate the majority of businesses that provide goods and services. A. True B. False 12. Adam Smith's laissez-faire capitalism is based on the concept of the government not interfering in business. A. True B. False 13. The economic system of the United States today is best described as pure, not mixed capitalism. A. True B. False 14. In socialism, all businesses are owned by the government. A. True B. False 15. In socialist countries, citizens are dependent on the government for many goods and services. A. True B. False 16. Today, almost all of the nations in the world operate as mixed economies. A. True B. False 17. Free enterprise provides an opportunity for a business to succeed or fail on the basis of market demand. A. True B. False

          8. Factors of production consist of land, labor, capital and enterprise needed to provide goods and services.
A. True B. False
9. Karl Marx was the father of capitalism.
A. True B. False
10. Communist economies have been marked by low standards of living, critical shortages of consumer goods, high prices, corruption and little freedom.
A. True B. False
11. Capitalism is an economic system in which individuals own and operate the majority of businesses that provide goods and services.
A. True B. False
12. Adam Smith's laissez-faire capitalism is based on the concept of the government not interfering in business.
A. True B. False
13. The economic system of the United States today is best described as pure, not mixed capitalism.
A. True B. False
14. In socialism, all businesses are owned by the government.
A. True B. False
15. In socialist countries, citizens are dependent on the government for many goods and services.
A. True B. False
16. Today, almost all of the nations in the world operate as mixed economies.
A. True B. False
17. Free enterprise provides an opportunity for a business to succeed or fail on the basis of market demand.
A. True B. False

8 factors of production consist of land labor capital and enterprise needed to provide goods and services a true b false 9 karl marx was the father of capitalism a true b false 10 communist 67904

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