Question

Karl Marx called for __________to control government and develop a classless society.




As economic theories, socialism and communism sought to

encourage private ownership of businesses.
even out inequalities of wealth.
encourage little government oversight.
build housing and schools for workers.



In terms of production, what best describes the difference between capitalism and socialism?

Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.
Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.
Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.
Capitalism is a system in which government should “plan” the economy, but socialism stresses that free market dictates production.



In general, which best explains why communist revolutions did not happen?

Workers were too tired and poor to revolt.
Moderate socialists were less radical.
Capitalist governments enacted reforms.
Workers were not convinced they would work.



An economic theory that calls for workers to take control of factories is__________.



Karl Marx developed the economic theory of

socialism.
capitalism.
utopianism.
communism.



Which best explains how a mixed economy addressed problems that arose from capitalism?

Laissez-faire principles remained, but government passed laws promoting worker safety.
Government interference continued, and new laws allowed workers to own companies.
Supply and demand remained, and government took control of the means of production.
Government regulation was minimal, but new laws protected workers and their standard of living.



In a free market, supply and demand determines

the type and number of goods produced.
the number and distribution of goods produced.
the raw materials and tools used to produce goods.
the factories and machines used to produce goods.



Adam Smith believed that fair prices for goods are determined in a capitalist system

through competition between businesses.
by government regulation of businesses.
by setting limits on imports and exports.
through competition between consumers.



What two principles form the basis for capitalism?

private ownership and equal wealth
free markets and shared property
private ownership and free markets
free markets and government oversight

Answer 1

1) Karl Marx called for __________ to control government and develop a classless society.
- the working class (the proletariat)

2) As economic theories, socialism and communism sought to
- even out inequalities of wealth.

3) In terms of production, what best describes the difference between capitalism and socialism?
- Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

4) In general, which best explains why communist revolutions did not happen?
- Capitalist governments enacted reforms.

5) An economic theory that calls for workers to take control of factories is __________.
- socialism

6) Karl Marx developed the economic theory of
- communism

7) Which best explains how a mixed economy addressed problems that arose from capitalism?
- Government regulation was minimal, but new laws protected workers and their standard of living.

8) In a free market, supply and demand determines
- the type and number of goods produced.

9) Adam Smith believed that fair prices for goods are determined in a capitalist system
- through competition between businesses.

10) What two principles form the basis for capitalism?
- private ownership and free markets