Industrialization Capitalism v. Communism

Front

A key aspect of capitalism is private ownership of property.

Back

True

Front

In communism, there is private property (you can own your own home or business)

Back

False

Front

What is the economic system based off private ownership and individual choice?

Back

Capitalism

Front

Which economic system abolishes all private property and personal wealth, and has all goods and services shared according to people's needs?

Back

Communism

Front

Who is known as the Father of Communism?

Back

Karl Marx

Front

Who was known for his ideas about capitalism and wrote, "The Wealth of Nations"?

Back

Adam Smith

Front

In which economic system is the government not involved in owning resources or making decisions?

Back

Capitalism

Front

Which economic system would Mrs. Brienza be living in if she opens a flower shop, decides which flowers to buy and what prices to sell them at, and makes an enormous profit?

Back

Capitalism

Front

Which economic system would Mrs. Brienza be living in if she grows and picks flowers on a community plot of land, then gives them to the local officials, who distribute them equally to other people, and lives in public housing because there's no private ownership?

Back

Communism

Front

Which economic system provides the most incentive to innovate products, work hard, and be creative?

Back

Capitalism