Econ 2.2 Quiz

In a command economy, who decides what should be produced?

• The consumers

• The local businesses

• The leaders or central government

• The international market

What is the purpose of taxes in a command economy?

• To support private businesses

• To fund public services

• To increase consumer spending

• To reduce government power

What is authoritarian socialism?

• A system with complete political freedom

• A system with absolute obedience to authority

• A system with no government control

• A system with full private ownership

How is democratic socialism established?

• Through violent overthrow

• Through democratic political process

• Through foreign intervention

• Through corporate control

Who was Friedrich Engels?

• A factory owner

• Karl Marx's brother

• The son of a factory owner and Marx's collaborator

• A famous scientist

What did factory owners do with labor, according to Marx?

• Treated it as a valuable resource

• Looked upon it as just another commodity

• Paid it fairly

• Ignored it completely

What did Marx and Engels lay out in The Communist Manifesto?

• The benefits of capitalism

• Ideas for a new society without economic classes

• The history of the Industrial Revolution

• The principles of democracy

What was one of the main focuses of North Korea's government control?

• Education

• Military

• Healthcare

• Agriculture

What was the economic condition of North Korea for much of the 1990s?

• Rapid growth

• Stability

• Negative growth

• Inflation

What did the government control in North Korea?

• Only education

• Every economic decision

• Only healthcare

• Only agriculture