Week 3 Bingo

This bingo card has a free space and 48 words: North Korea, False, NASA, Rights, provides a mechanism for efficient resource allocation without relying on private ownership., System in which there is collective ownership of the means of production, central planning, and a broad emphasis on equality, Public ownership of the means of production, middle ground beyond the usual categorization of economic systems into capitalism and socialism, bureaucratic issues, Pension, Israel, Free riders, The social cost: bigger cars produce more emissions, bigger cars are a risk to drivers in smaller cars., Individuals who actually need a larger vehicle (truck) will be affected., Former of Soviet Union, China, North Korea, and Cuba, Collective ownership of the means of production, $28 million dollars, Four, Karl Marx, presenting a nuanced perspective, central planning board mimics market forces by adjusting prices, Basic Needs, Friedrich Engles, Less financial incentive for innovation, socialism and economic efficiency are incompatible, Spain, “Nudge” by Richard Thaler., Private ownership, adjusting prices to efficiently allocate resources, False, reconsideration of economic systems, Norway, More equitable distribution of goods and services, less pressure to maximize profit, to make the poor better off, low-income workers, faced with inequality, would inevitably revolt against the wealthy, Wealth, True, finding a middle ground through market socialism, The collapse of the Soviet Union, Output and pricing levels, Social Costs, Non-functioning governments, True, 1950s and 1960s, the more sophisticated our government institutions need to be, The market encourages externalities so it can’t solve the problem, exploring the relationship between socialism and economic efficiency. and healthcare.

⚠ This card has duplicate items: False (2), True (2)

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