Week 5 Communism/Socialism

1. The Soviet Union was successful in producing heavy industry goods.

• True

• False

The Soviet Union was successful in producing quality consumer goods.

• True

• False

The USSR and China had food surpluses in the early years of Communism.

• True

• False

The Soviet Union collapsed due to a poor economy.

• True

• False

Cuba is a capitalist country.

• True

• False

In a centrally planned economy, the individual consumers and producers answer the 3 basic economic questions.

• True

• False

Venzuela is a communist country.

• True

• False

• it has some aspects of communist ideology.

Private individuals own land and capital in capitalism.

• True

• False

In Communism, labor is owned by the government.

• True

• False

10. Communism focuses on self interest, incentives, and competition.

• True

• False