Capitalism vs Communism - Formative Assessment

Front

In ___________, individuals own both private property and the means of production (factories, machines, tools, etc.).

Back

Capitalism

Front

In this system people make all economic decisions based on their own self-interest. In a pure __________ system, only the forces of supply and demand control the economy.

Back

Capitalist

Front

_________ argued for Capitalism in his book The Wealth of Nations.

Back

Adam Smith

Front

In this economic system, people may own private property, but the public controls the means of production.

Back

Socialism

Front

________ argued for Communism in The Communist Manifesto

Back

Karl Marx

Front

The term used for the working class, often used when describing the theories of Karl Marx

Back

Proletariat

Front

The term used for the middle class, used in the 1700s and 1800s

Back

Bourgeoisie

Front

In ___________, the government/people as a group own all property and the means of production. Goods and services are shared equally.

Back

Communism

Front

A large gap between the rich/poor, bad working conditions, and child labor were the result of which economic system of the Industrial Revolution? Options: Capitalism, Socialism, Communism, Mercantilism

Back

Capitalism

Front

When Communism was introduced, who would have likely been its biggest supporters? Upper Class, Middle Class, Lower Class

Back

Lower Class