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WorksheetsWhich one matches with Socialism?
Total questions: 10
Worksheet time: 10mins
The Communist Manifesto, published in 1848, lays out the initial ideas that would inspire the rise of Socialism and Communism in the Soviet Union. Along with Friedrich Engels, WHO is well known for being the author of this book?
Otto Von Bismarck
Karl Marx
Adam Smith
Niccolo Machiavelli
Which of the following matches to the economic system of Socialism?
Businesses are owned by individuals
Businesses are owned by the government
Which of the following matches to the economic system of Socialism?
Wealth is created by individuals and businesses that create products and services to offer in the economy
Wealth is controlled and managed by the government with the purpose of controlling where wealth is created and who gets it
Which of the following matches to the economic system of Socialism?
Wealth is measured by the overall value produced by businesses managed by the government
Wealth is measured by the overall value produced by businesses privately run by people
Which of the following matches to the economic system of Socialism?
The main incentive to work lies in helping produce for the overall economy so that everyone gets a little more
The main incentive to work lies in the fact that for everything you create (or offer as a service) you personally profit more
Which of the following matches to the economic system of Socialism?
Businesses are managed equally by the government with the goal of managing what is produced overall in the economy, intending to provide equally for the needs of all people
Businesses compete with each other, often offering similar products and services, while attempting to innovate and efficiently price, so that they can "outsell" their competition
Which of the following matches to the economic system of Socialism?
The only investment that exists is government investing into new businesses, ideas, and products
Investment is done by individuals with the hopes of investing in successful new ideas and products, so that investors can profit
Which of the following matches to the economic system of Socialism?
Wealth and value are taken and controlled by the government so that it can be equally distributed (given out) to everyone within the country or system (everyone is the same class)
Wealth and value are created by individual businesses, so based on different levels of effort, success, efficient use of wealth, and life circumstances, some people end up richer over time, while others end up poorer
Which of the following matches to the economic system of Socialism?
By individuals and businesses creating and profiting from their own ideas, they realize that in order to profit they need to make something people are willing to buy, thereby inevitably offering a product or service that fills a need in society
By individuals and businesses creating what is directed by government management, the idea of improving technology and offering what people need lies solely on the hopes that government can efficiently adjust according to rising concerns and needs of the people
The United States is technically a mixed economy, with elements of both free market capitalism, and government socialist programs, but historically we have leaned more towards which type of economy?
Capitalism
Socialism
