Socialism, Capitalism, Communism, and Labor Reform

Which is NOT a characteristic of Capitalism?

• Market Economy

• Supply and Demand

• Freedom of Competition

• A society with no class devisions

The government or groups of workers might control factories and social services, but the profits are divided among the people.

• Capitalism

• Communism

• Socialism

• Mixed Economy

This economic system is based on competition, profits, and self-interest.

• Socialism
• Communism
• Capitalism

What was a long term result of the Industrial Revolution?

• A cleaner natural environment
• Animal Preservation
• Worker Unions and Labor Laws
• A second Neolithic Revolution

Karl Marx spelled out how he believed that workers should rise up against factory owners, outlining the basic principles of . . .

• capitalism

• socialism

• laissez faire policy

• command economies

Formation of national labor unions in the late 1800's was mainly because of

• passage of laws that supported workers

• laws restricting immigration

• poor working conditions and low wages

• economic depression that led to high unemployment

According to Adam Smith, a free market economy works best when it is driven by

• government rules

• large corporations

• competition

• labor unions

According to socialists, the solution to poverty and injustice was

• armed revolution to overthrow the proletariat.

• individual ownership of the means of production.

• shared ownership by the people of the means of production.

• the charity and good works of the religious community.

Karl Marx despised capitalism because he believed that it

• discouraged labor unions.

• limited the individual freedoms of the people.

• created wealth for a small group of elites and poverty for many.

• prevented government from protecting workers.

“The greatest happiness for the greatest number” was a goal of

• laissez-faire.

• communism

• utilitarianism

• capitalism