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- 1. Multiple ChoiceA social and political philosophy based on the belief that democratic means should be used to distribute wealth throughout society is calledcommunismcollectivismsocialismauthoritarianism
- 2. Multiple ChoiceThe former Soviet Union was an example of a communist country whereindividual freedom was allowedfree enterprise was encouragedconsumers had many choicesmost economic and political power was controlled by the government
- 3. Multiple ChoiceSocialist believe economic equality is only possible ifeveryone makes the same amount of moneythe public controls the economymedical care is freeno one has to pay taxes
- 4. Multiple ChoiceWho makes most basic decisions in a centrally planned economy?investorsconsumersgovernmentmarket forces
- 5. Multiple ChoiceWhat did Karl Marx believe about capitalism?that it was the source of all valuethat it led to exploitation of workersthat it distributed wealth fairly in societythat it was the inevitable product of socialism
- 6. Multiple ChoiceWhich policy change was partly responsible for economic growth in China starting in the 1970s?imposing more controls on Chinese farmersforcing factory workers to work on farmspromoting new agricultural productsgiving farmers the chance to own land
- 7. Multiple ChoiceWhat is one reason centrally planned economies tend not to be efficient?Workers lack the incentive to work harder.Decision-makers do not have enough power.Decision making is too decentralized to be effective.Factories produce too many types of goods.
- 8. Multiple ChoiceHow did communist China manage to survive when the Soviet Union did not?China abandoned central planning.China was more effective at central planning.China did not engage in a military buildup.China introduced capitalist reforms.
- 9. Multiple ChoiceWhich of the following is typical of a centrally planned economy?competition among producersconsumer sovereigntygovernment controlprivate property
- 10. Multiple ChoiceWhich of the following represents a difference between socialism and communism?Socialism requires central control of all productive resources; communism does not.Socialism may allow some free market practices; communism does not.Socialism emphasizes the equal distribution of wealth; communism does not.Socialism depends on authoritarian government; communism does not.
- 11. Multiple ChoiceWhat distinguishes an authoritarian government from a democratic one?It respects individual rights.It pursues capitalist economic policies.It discourages a strong central government.It requires strict obedience from its citizens.
- 12. Multiple ChoiceHow were the Soviet Union and communist China similar?Both suffered from severe economic problems as a result of central planning.Both eventually became free market economies.Both were more successful in developing a thriving agriculture than in developing thriving industry.Both states turned away from communism and were able to avoid collapse.
- 13. Multiple ChoiceWhat is a disadvantage of central planning?no emphasis on economic equitylack of economic efficiencytoo much individual freedomoverreliance on profit incentive
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