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Economic Systems Comparison
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Economic Systems Comparison
📊 Part 1: Economic Systems Knowledge
1. Which economic system is characterised by private ownership and free markets?
Capitalism
Socialism
Mixed Economy
Command Economy
2. In which economic system does the government control most industries and resources?
Capitalism
Socialism
Mixed Economy
Free Market
3. Which characteristics apply to New Zealand's economic system? (Select all that apply)
Free healthcare system
Private businesses
Government-owned enterprises
Stock market trading
4. Complete the sentence: A mixed economy combines elements of __________ and __________ systems.
A mixed economy combines elements of _________________ and _________________ systems.
🌏 Part 2: Real-World Applications
5. Give one example of a capitalist principle you can observe in New Zealand society:
6. Give one example of a socialist principle you can observe in New Zealand society:
7. Explain one advantage and one disadvantage of capitalism:
Advantage:
Disadvantage:
8. Why might a country choose to have a mixed economy rather than a purely capitalist or socialist system?
💭 Part 3: Critical Thinking
9. In your opinion, which economic system would be most fair for all citizens? Explain your reasoning with specific examples.
10. How might understanding different economic systems help you as a future citizen and voter in New Zealand?
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