Correct: Government provides more public services, Government has more control over the economy, 'Big' government, You have to pay higher taxes, Belief in collectivism - 'stronger together', Nationalisation - Government controls more of the economy, Government is more 'interventionist', It is the Government's job to solve economic problems like unemployment, The Government should control the value of the Pound, Linked to 'Keynesian' economic theory, Linked to the period 1939-1951, A national health service should be run by the Government., Centrally planned economy - Government decides what happens, Rationing of food, Incorrect: Government provides fewer public services, Government has less control over the economy, 'Small' government, You have to pay lower taxes, Belief in individualism - 'better individually', Privatisation - Government controls less of the economy, Government is 'laissez faire' - does not want to be involved, It is not the Government's job to solve economic problems like unemployment, The Government should allow the value of the Pound to rise and fall, Linked to 'Classical' economic theory, Associated with the period 1900-1939, You should get healthcare insurance - it's not the Government's job to look after you!, Market economy - supply and demand determine what happens, You can have whatever food you want,
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How socialist systems work
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