Capitalism vs. Socialism

Capitalism vs. Socialism

Multiple Choice

Believed that industrialization and the factory system has hurt workers and society

• Karl Marx

• Adam Smith

Multiple Choice

The factors of production should be privately owned by individuals or businesses.

• Karl Marx

• Adam Smith

Multiple Choice

No need for government regulation of the economy

• Karl Marx

• Adam Smith

Multiple Choice

Father of Marxism / Father of Communism

• Karl Marx

• Adam Smith

Multiple Choice

the proletariat (workers) should unite and overthrow the capitalist bourgeoisie (wealthy class)

• Karl Marx

• Adam Smith

Poll

How well do you feel you understand these concepts?

• super well

• sort of well

• not well at all

Multiple Choice

Supported free trade and free markets (no restrictions)

• Karl Marx

• Adam Smith

Multiple Choice

Laissez Faire

• Karl Marx

• Adam Smith

Multiple Choice

believed the proletariat (workers) were being abused by the bourgeoisie (wealthy business owners)

• Karl Marx

• Adam Smith

Multiple Choice

"Father of Capitalism"

• Karl Marx

• Adam Smith

Multiple Choice

Individuals should pursue self-interest

• Karl Marx

• Adam Smith

Multiple Choice

Wrote the Communist Manifesto and Das Kapital

• Karl Marx

• Adam Smith

Multiple Choice

Wrote the Wealth of Nations

• Karl Marx

• Adam Smith

Multiple Choice

Government provides for the working class people.

• Capitalism
• Socialism

Multiple Choice

No or limited government interference in industry.

• Capitalism
• Socialism

Multiple Choice

Equal distribution of wealth.

• Capitalism
• Socialism

Multiple Choice

Laissez-Faire

• Capitalism
• Socialism

Multiple Choice

Private ownership of industry.

• Capitalism
• Socialism

Multiple Choice

Market economy.

• Capitalism
• Socialism

Multiple Choice

Production determined by supply and demand.

• Capitalism
• Socialsim

Multiple Choice

No class system.

• Capitalism
• Socialism

Multiple Choice

Government control of industry.

• Capitalism
• Socialism