| A | B |
|---|
| mixed economies | economic system that has some combination of traditional, command, and market economies |
| Great Depression | The worst period of economic decline in U.S. History. It lasted from 1929-1939 |
| communism | An economic and political system in which factors of production are collectively owned and directed by the state. A theoretically classless society in which everyone works for the common good. |
| Karl Marx | The German economic philosopher who was the author of a pamphlet called "The Communist Manifesto". |
| Socialism | Private individuals own some of the resources while the government owns and uses the rest |
| Nonfree market programs that were created due to the great depression | unemployment insurance, the minimum wage, Social security, price supports in agriculture, and bank deposit insurance |
| allocation | distribution |
| Countries that display many elements of communism: | North Korea, Cuba, and the former Soviet Union. |
| Democratic countries that have maintained Extensive socialsitic programs: | Sweden, Denmark, Germany, and Norway |
