Question

match the statements with the economic systems.

1.036) ______ an economic system without government interference
1.037) ______ grew out of socialism but differed by seeking to control all areas of society
1.038) ______ was a reaction to capitalism
1.039) ______ grew out of and closely subscribes to the laissez-faire system
1.040) ______ an early economic system that gave the government strict control over business

a. free enterprise (capitalism)
b. socialism
c. laissez faire
d. mercantilism
e. communism

Explanation:

Match definitions to economic concepts

• 1.036: "an economic system without government interference" matches laissez-faire (C).
• 1.037: "grew out of socialism but differed by seeking to control all areas of society" matches communism (E).
• 1.038: "was a reaction to capitalism" matches socialism (B).
• 1.039: "grew out of and closely subscribes to the laissez-faire system" matches free enterprise (capitalism) (A).
• 1.040: "an early economic system that gave the government strict control over business" matches mercantilism (D).

Answer:

No.	Answer
1.037	E
1.038	B
1.039	A
1.040	D