Economic Systems & Daily Life| Questions and Answers (A+ Solution guide)

When compared to a mixed-market economy, a command economy typically has - a much smaller wealth gap. What is the best definition of ownership? - Ownership is the right to possess land or goods A wealth gap is an economic difference between - classes. In a mixed market economy, property owned by an individual - can help promote personal wealth. What is one argument in favor of the wealth gap? - Investments by the upper class create lower-class jobs. From 2001 to 2011, unemployment in the United States - sharply increased. The difference in income between the richest and poorest citizens is called the - Wealth Gap What is one argument against the wealth gap? - Economic growth will likely decline over time. Private property is land or goods - owned by an individual. Based on this graph, how much wealth did the top 20 percent of the population hold? - about 35 percent ? Wrong 55 percent . Wrong is the act of working in exchange for an income. - Employment