Gov systems

How is socialism funded?

• Through printing more money.
• Through private investments and donations.
• Through borrowing from other countries.
• Through taxes, government-owned enterprises, and redistribution of wealth.

Who runs the market in Capitalism?

• Private individuals and businesses
• Religious institutions
• The military
• The government

What is the governments role in socialism?

• promote individual ownership and free market competition.

• provide equal wealth distribution to all citizens.

• prioritize private ownership and profit maximization.

• own and control the means of production and distribution of goods and services.

Why does socialism work on paper but not in practice?

• Inability to adapt to changing economic conditions, lack of competition, and limited consumer choice.
• Lack of innovation, limited individual freedom, and high taxes.
• Lack of resources, corruption, and unequal distribution of wealth.
• Inefficiency, lack of incentives, and government control over the economy.

Define Factors of production

•  the basic resources which are used to make all goods and services.

• Labor used in the production process
• Inputs used in the production process
• Goods produced in the production process

Why do American's prefer Capitalism?

• Encourages government control and regulation.
• Leads to income equality and social justice.
• Stifles innovation and economic progress.
• Promotes individual freedom, competition, and economic growth.

What kind of economy is used in Communism?

• Command economy
• Mixed economy
• Centrally Planned economy

• Free market economy

What side of the political spectrum is communism?

• Far Left

• Far Right

• Middle

What economic change resulted in the rise of communism?

• Industrial Revolution
• Free market capitalism
• Globalization
• Technological advancements

What happened to countries like Yugoslavia and Bosnia after the fall of communism?

• They started going to war with each other

• They remained as one unified country
• They became part of the Soviet Union
• They formed a new communist government