Communism Socialism Capitalism

argued for Capitalism in his book The Wealth of Nations.

• Karl Marx

• Friedrich Engles

• Adam Smith

• John Locke

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

• Capitalism

• Socialism

• Communism

• Mercantilism

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

• Serfs

• Second Estate

• Bourgeoisie

• Proletariat

This economic system is related to the idea of "survival of the fittest".

• Capitalism

• Mercantilism

• Socialism

• Communism

A large gap between the rich/poor, bad working conditions, and child labor were the result of which economic system of the Industrial Revolution.

• Capitalism

• Socialism

• Communism

• Mercantilism

When Communism was introduced, who would have likely been its biggest supporters?

• Upper Class

• Middle Class

• Lower Class

Karl Marx predicted that with Communism, the government would be unneeded; however, instead ____________ frequently emerged.

• Democracy

• Dictatorships

• Freedom of Choice

• Tolerance of Multiple Political Parties

In the 1800's and 1900's communist governments/economies emerged in the following locations:

• United States, Japan & Germany

• Brazil, Mexico & Canada

• Britain, France & Spain

• Russia, China & Cuba

In a socialist economy, the wealth is distributed evenly among citizens.

• True

• False

______________get to make the economic decisions under capitalism.

• Individuals

• Government

• Literally no one

• The President