New Economic Theories

Question 1

As economic theories, socialism and communism sought to

Revolt · Accepted Answer

B: even out inequalities of wealth.

Question 2

In a dictatorship of the proletariat, who controls the government?

Revolt · Accepted Answer

D: working classes

Question 3

What moderate reforms did European socialists support? Check all that apply.assistance for the poorworking class revolutionbetter working conditionslack of protections for unionsminimum wage lawslack of regulation for prices

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A: assistance for the poor; C: better working conditions; E: minimum wage laws

Question 4

communismsocialismcapitalismutopianism

Revolt · Accepted Answer

B: socialism

Question 5

According to Karl Marx, the economic ideas behind socialism would lead to a

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A: communist revolution.

Question 6

In terms of production, what best describes the difference between capitalism and socialism?

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A: Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

Question 7

Which problems arose as a result of capitalism with little government oversight? Check all that apply.An even distribution of wealth led to little competition.Businesses eventually exploited the working class.Workers who were injured on the job were not protected.There were vast inequalities between workers and owners.Worker’s unions dissolved because employee treatment improved.Big companies drove small companies out of business.

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B: Businesses eventually exploited the working class.; C: Workers who were injured on the job were not protected.; D: There were vast inequalities between workers and owners.; F: Big companies drove small companies out of business.

Question 8

In a free market, supply and demand determines

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A: the type and number of goods produced.

Question 9

revoltedworked harderobeyedowned property

Revolt · Accepted Answer

A: revolted

Question 10

Which best explains how a mixed economy addressed problems that arose from capitalism?

Revolt · Accepted Answer

D: Government regulation was minimal, but new laws protected workers and their standard of living.

New Economic Theories Answers

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