Karl Marx and Socialism

Who is known as the "Father of Socialism"

• Karl Marx

• Adam Smith

• Alfred Marshal

• Lionel Robbins

One of the most famous works of Karl Marx is?

• An Enquiry into the Nature and Causes of Wealth

• Das Kapital

• The Black Swan

• Freakonomics

What are the 3 basic economic questions?

• What to produce

• How to produce

• For whom to produce

• All of the above

What is a Socialistic economy?

• 100% Private control

• 100% Government Control

• 50% Private Control and 50% Government Control

• None of the Above

What is the main driving force in a Socialistic economy?

• Profit Motive

• Social Welfare

• Both Profit Motive and Social Welfare

• None of the above

Socialism is more of a _____________ system, while Communism is more of ______________ system.

• economic, political

• political, economic

• open, closed

In world history, which was the first country to be established purely on Socialist ideologies (Marxism)