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- 1. Multiple ChoiceIn a "pure" communist society, who are the wealthiest and most powerful people?IntellectualsBusiness leadersMilitary leadersNo One--every member of society is supposed to be equal
- 2. Multiple ChoiceWhat societal problem did Karl Marx attempt to address in his manifesto? Choose the best answer.The exploitation of the poor by the richThe low quality of good produced at large factories.The fact that poor people were not allowed to vote.Unfair laws that allow poor people to be sent to prison
- 3. Multiple ChoiceAccording to Marx, workers would take control of governments through:Non-violent protestDemocratic reformsViolent revolutionTrickery
- 4. Multiple ChoiceHow are workers motivated under the economic theory of capitalism?Workers are motivated by the ability to sell and trade stocks in their company.Workers are motivated by a form of wage slavery known as mercantilism.Workers are motivated by the profit motive.Workers are motivated by health benifits with their work contracts.
- 5. Multiple ChoiceHow does socialism differ from capitalism?In socialism, the goverment controls the means of production; whereas, capitalism focuses on the private owner.In socialism, the goverment provides subsidies for small buisnesses; whereas, capitalism only depends on the corporations to spark the economy.In socialism, the goverment does not provide any form on humanitarian aid; whereas, capitalism funds small buisness with tax relief.In socialism, the government controls what the consumer can purchase; whereas, capitalism controls what the business can market.
- 6. Multiple ChoiceAccording to the law of supply and demand, how does over-manufacturing of a product affect the price?Over-manufacturing reduces the price of a product.Over-manufacturing creates jobs to improve the economy.Over-manufacturing raises prices to offset production costs.Over-manufacturing leads to peaks in the business cycle.
- 7. Multiple Choice
The best reference to Laissez-faire is...
Hats off
Hands around
Hands off
Hands on
- 8. Multiple ChoiceWhat is a key difference between capitalism and communism?Private Property is allowed in CapitalismCommunism allows for a free marketCapitalism, in theory, spreads the wealth evenlyCommunism encourages entrepreneurship
- 9. Multiple ChoiceWhat is Capitalism?A system where the government controls businessAn economic system where the means of production are privately owned and operated for profit!A economic system in which the people have limited rightsAn economic system in which most property and resources, such as factories or farms, are publicly owned or controlled.
- 10. Multiple Choice
Which of these people is an extreme conservative capitalist?
Bennie Sanders
John F. Kennedy
Donald Trump
Hilary Clinton
- 11. Multiple Choice______________get to make the economic decisions under capitalism.IndividualsGovernmentLiterally no oneThe President
- 12. Multiple ChoiceWhich is NOT a characteristic of Capitalism?Market EconomySupply and DemandFreedom of CompetitionClassless Society
- 13. Multiple ChoiceThe government or groups of workers might control these resources but the profits are divided among the people.CapitalismCommunismSocialismMixed Economy
- 14. Multiple Choice
This economic system is based on competition, profits, and self-interest.
Socialism
Communism
Capitalism
- 15. Multiple ChoiceWhat does communism believe in?Economic system with individuals having private ownership of money/production.Maintaining total control over society.Economic equality through elimination of private property.A government of the people, by the people, for the people.
- 16. Multiple ChoiceAccording to the law of supply and demand, how does the scarcity of product that is in high demand affect prices?Scarcity of a high demand product stablizes the market value of the product.Scarcity of a high demand product increases the market value of the product.Scarcity of a high demand product neutralizes the market value of the product.Scarcity of a high demand product decreases the market value of the product.
- 17. Multiple Choice
What is a name given by Karl Marx for the rich owners of the means of production?
bourgeoisie
capitalist
socialist
proletariat
- 18. Multiple Choice
French “let it be” economists stated that governments should stay out of the economy and let “natural law” decide
escargot
Laissez faire
mardi gras
laissez les bon temps rouler
- 19. Multiple Choice
In a free market economy prices are related to the amount of a good is known as...
law of supply and demand
law of competition
law of cosines
law of superposition
- 20. Multiple Choice
the things needed by every business- land, labor, capital, entrepreneurship
means of production
means of distribution
means of egress
law of competition
- 21. Multiple Choice
Name given by Karl Marx for the poor workers of industries
proletariat
plebeian
patrician
platonian
- 22. Multiple Choice
laissez- faire economist and “father of modern economics” wrote a book Wealth of Nations about free market capitalism
Karl Marx
Adam Smith
Friedrich Hayek
John Forbes Nash
- 23. Multiple Choice
The state sponsors Landen's Cancer treatment.
Capitalism
Communism
Socialism
- 24. Multiple Choice
Preston and Landen work very hard in their “movie” business. They get a raise from all their hard work.
Capitalism
Communism
Socialism
- 25. Multiple Choice
Malachi got a raise at work. He then decided to get his haircut from the barber shop his neighbor owned.
Capitalism
Communism
Socialism
- 26. Multiple Choice
Kolby has a hard job, but gets the same rations as people with easier jobs.
Capitalism
Communism
Socialism
- 27. Multiple Choice
Carly owned 2 cows, but Hannah owned 10 cows. Both of them receive the same amount of milk from the government.
Capitalism
Communism
Socialism
- 28. Multiple Choice
Mary stopped working so hard at work since Kaitlin is a slow worker and they still receive the same pay.
Capitalism
Communism
Socialism
- 29. Multiple Choice
Wes is very happy because he went to hospital and got free medical care.
Capitalism
Communism
Socialism
- 30. Multiple Choice
Carter was homeless, but he was provided with free housing, and even got to go to college for free.
Capitalism
Communism
Socialism
- 31. Multiple Choice
Molly is excited because her new business has taken off and she can set fair prices for her goods.
Capitalism
Communism
Socialism
- 32. Multiple Choice
Chalissa is very angry because she put in 30 extra hours of work this week and got nothing in return for it.
Capitalism
Communism
Socialism
- 33. Multiple Choice
George is excited! He just bought a building to start his new car dealership.
Capitalism
Communism
Socialism
- 34. Multiple Choice
Marilyn worked at the factory all day, and Rob only worked half a day but they both got the same amount of food.
Capitalism
Communism
Socialism
- 35. Multiple Choice
Rob got a huge raise, so he and his wife decided to improve their home with a new kitchen
Capitalism
Communism
Socialism
- 36. Multiple Choice
Gordon is a millionaire he pays a very high tax rate. Tiffany has a minimum wage job. A percent of Gordon's income goes to Tiffany to create a balance.
Communism
Socialism
Capitalism
- 37. Multiple Choice
Tommy goes to the government owned store and leaves with the bare minimum because that’s all the government said he needed.
Capitalism
Communism
Socialism
- 38. Multiple Choice
Gus has 300 million dollars he gets taxed 60% of that and keeps what is left.
Capitalism
Communism
Socialism
- 39. Multiple Choice
Elmen hasn’t bought groceries in a week because he hasn’t got his ration book yet.
Capitalism
Communism
Socialism
- 40. Multiple Choice
John got upset because his co-worker James got the raise instead of him.
Capitalism
Communism
Socialism
- 41. Multiple Choice
The Government controls the economy and taxes people with higher incomes in an attempt to eliminate the lower classes.
Capitalism
Communism
Socialism
- 42. Multiple Choice
The Government controls all means of production within the economic system
Capitalism
Communism
Socailism
- 43. Multiple Choice
The Government attempts to completely eliminate the class system all together by making EVERY person equal.
Capitalism
Communism
Socialism
- 44. Multiple Choice
The people own all means of production within the economic system.
Capitalism
Communism
Socialism
- 45. Multiple Choice
In socialism, who are the proletariat?
The people
The workers
The owners
The government
- 46. Multiple ChoiceIn socialism, who are the bourgeoisie?The ownersThe losersThe workersThe farmer
- 47. Multiple ChoiceCapitalism wants ________ ownership of businesses.SocialistCapitalPrivatePublic
- 48. Multiple ChoiceHow are workers motivated under the economic theory of capitalism?Workers are motivated by the ability to sell and trade stocks in their company.Workers are motivated by a form of wage slavery known as mercantilism.Workers are motivated by the profit motive.Workers are motivated by health benifits with their work contracts.
- 49. Multiple ChoiceWhy did Karl Marx believe capitalism should be destroyed?Marx believed all industrial capitalism needed to be regulated or the environment would be destroyed by the urbanization.Marx believed the proletariat was destined to live in squalor due to the pact God made with the Davidian line.Marx believed capitalism promoted too much greed via profit motive, and free enterprise would encourage the working class to overthrow the borgeoisie.Marx believed capitalism created a large division in the social class structure between the buisness owner and the working class.
- 50. Multiple ChoiceThe government owns some major industries like railroads and uses democratic methods to distribute wealth more equitably. Which economic system is this?socialismcapitalismtraditionalcommunist
- Answer choicesTagsAnswer choicesTags