Cap Soc Com Flashcard

Front

In a socialist economy, almost all of the wealth is distributed evenly among citizens.

Back

True

Front

In a "pure" communist society, who are the wealthiest and most powerful people?

Back

No One--every member of society is supposed to be equal

Front

In a Communist country, workers have no ________ to work harder.

Back

Incentive

Front

How does socialism differ from capitalism?

Back

In socialism, the goverment controls the means of production; whereas, capitalism focuses on the private owner.

Front

According to the law of supply and demand, how does the scarcity of product that is in high demand affect prices?

Back

Scarcity of a high demand product increases the market value of the product.

Front

What does communism believe in?

Back

Economic equality through elimination of private property.

Front

In which economic system is the GOVERNMENT in control of land, resources, and factories?

Back

Socialism

Front

In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?

Back

Capitalism

Front

In which economic system are the working class people as a WHOLE in charge of owning land, resources, and factories?

Back

Communism

Front

Greed is a weakness of which system? Options: Capitalism, Communism, Socialism

Back

Capitalism