Understanding Socialism

What is a key difference between socialism and capitalism regarding the ownership of production means?

• In capitalism, the means of production are owned by the community.

• In socialism, the means of production are owned by the community or workers.

• In capitalism, the means of production are owned by the state.

• In socialism, the means of production are privately owned.

Which historical figure is known for early socialist ideas in 'Utopia'?

• Robert Owen

• Plato

• Thomas More

• Karl Marx

Who were some early critics of the Industrial Revolution's impact on society?

• Vladimir Lenin and Leon Trotsky

• Joseph Stalin and Friedrich Engels

• Robert Owen and Charles Fourier

• John Stuart Mill and Adam Smith

What was Karl Marx's contribution to socialist theory?

• He advocated for capitalist market systems.

• He developed the labor theory of value.

• He founded the first international socialist organization.

• He introduced the concept of private property.

What was the purpose of the First International founded in 1864?

• To create a new economic system.

• To spread socialist ideas internationally.

• To establish a new world government.

• To promote capitalist ideas globally.

What was the outcome of the October Revolution in Russia?

• The establishment of a capitalist government.

• The nationalization of banks and industries.

• The dissolution of the Soviet Union.

• The creation of a new monarchy.

What was the stance of socialist parties during World War I?

• They advocated for immediate peace.

• They remained neutral and uninvolved.

• They supported their respective states' war efforts.

• They formed a new international alliance.

What was the Third International also known as?

• The Socialist International

• The Communist International

• The Capitalist International

• The Democratic International

What is one criticism of socialism related to economic efficiency?

• It increases competition and innovation.

• It leads to technological advancement.

• It enhances political freedoms.

• It reduces work incentives and efficiency.

What is the 'tragedy of the commons' in the context of socialism?

• A concept that promotes technological innovation.

• A theory that supports capitalist market systems.

• A scenario where common ownership leads to resource mismanagement.

• A situation where private ownership leads to resource depletion.