6.0.2 Unit Six Concepts and Terms
Completion requirements
6.0.2 Unit Six Concepts and Terms
Unit Question: To what extent should economic systems reflect the principles of liberalism?
Issue Question: To what extent are the principles of liberalism viable?
In this unit, you will explore the following questions arising from the issue question:
- How are liberal principles reflected in the world's economic systems?
- Which is more important: economic freedom or economic equality?
- Do economic systems need regulation?
This is a list of new terms you will encounter in this unit.
capital
capitalism
command economy
democratic socialism
demand-side economics
division of labour
economic equality
economic intervention
economic system
fiscal policy
capitalism
command economy
democratic socialism
demand-side economics
division of labour
economic equality
economic intervention
economic system
fiscal policy
invisible hand
market socialism
mixed economy
monetarism
nationalization
neo-conservatism
perestroika
private property
privatization
progressive taxation
market socialism
mixed economy
monetarism
nationalization
neo-conservatism
perestroika
private property
privatization
progressive taxation
public property
Reaganomics
regulation
shock therapy
supply-side economics
sustainable development
stagflation
traditional economy
trickle-down theory
Reaganomics
regulation
shock therapy
supply-side economics
sustainable development
stagflation
traditional economy
trickle-down theory