economics Study Guide

welfare

One's well being

Economics

the study of the management of resources

incentive

somthing that motivates another to do somthing

socialism

government control of property and the redistribution of personal wealth

stewardship

ones use of care for resources

capitalism

private owndership of property and the right to keep ones weath

the marxist world view has a slogan that says what?

'FROM EACH ACCORDING TO HIS ABILITY, TO EACH ACCORDING TO HIS NEED."

what used to be the places that modern government has taken over?

family and church

What is man supposed to care for in gods world?

trees, land && animals

Which worldview advocates a capitalistic view of economics?

the christian worldview

what is the biblical model for welfare?

family

In a humanistic perspective, what is the center of welfare?

the state

Pure communism has never been what?

realized.

In the book of Acts the church was not an example of socialism because their giving was not _______ or ________.

forced or demanded.

What happens when the government removes incentives for work?

They avoid work and it leads to the welfare trap.