6.1 Communism & Capitalism

What will free trade lead to according to the basics of Capitalism?

• A prosperous economy

• Government regulation of the economy

• Increased trade restrictions

• Decreased private ownership

What is opposed in the basics of Capitalism?

• Free trade and prosperity

• Monopolies and trade restrictions

• Private ownership and free trade

• Government regulation and private ownership

What does the phrase "laissez-faire" or "let it be free" refer to in the context of Capitalism?

• Government control over the economy

• Letting people do as they please

• Restricting trade and competition

• Imposing taxes on trade

According to Adam Smith's "The Wealth of Nations," what is a natural law of economics where people work for their own good?

• Self-interest

• Government intervention

• Monopoly

• Scarcity

What does competition force people to do according to Adam Smith's natural laws of economics?

• Seek government assistance

• Make better products

• Increase prices

• Decrease production

According to Adam Smith's natural laws of economics, what determines the production of goods?

• Government regulations

• The amount of goods already available

• The demand from people

• The level of technology

In a Communist society, who controls all means of production?

• The government

• The people

• Corporations

• Foreign entities

According to Karl Marx, what was the driving force of history?

• Economic inequality

• The Proletariat's revolt

• Technological advancements

• Political ideologies

During the 19th century, Karl Marx believed society was divided into which two classes?

• The Bourgeoisie and the Proletariat

• The Aristocrats and the Commoners

• The Landowners and the Serfs

• The Capitalists and the Socialists

What is the goal of Communism according to the video questions section?

• To establish a worldwide revolution

• To distribute resources and wealth equally

• To control the means of production

• To create a classless society