AnswersS1S W. HistGeoCult 10A E1162 - AGSocialism and Communism

Socialism and Communism — Unit test Answers

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Why did governments authorize the creation of joint-stock companies?

A
to stop shareholders from buying stocks
B
to allow their colonies to make money
C
to limit the possibility of risk from trade
D
to prevent a positive balance of trade
2
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Which nation has a communist command economy?

A
Norway
B
North Korea
C
South Korea
D
the United States
3

Which statement best describes a pure market economy?

A
Producer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
4

What is one way a command economy affects the lives of private citizens?

A
Citizens cannot make most economic decisions.
B
Citizens can only work in factories or on farms.
C
Citizens must pay for their own health care.
D
Citizens have limited access to education.
5

Marx and Engels believed the Industrial Revolution had separated people into two separate classes: the bourgeoisie and the

A
utopians
B
proletariat
C
appendages
D
capitalists
6

How does the government of a republic typically shape its economy?

A
The government allows citizens to own private businesses.
B
The government blocks the ownership of personal property.
C
The government owns all homes and other forms of housing.
D
The government controls factories and other forms of production.
7

Read the excerpt from The Communist Manifesto.The Communists disdain to conceal their views and aims. They openly declare that their ends can be attained only by the forcible overthrow of all existing social conditions.

A
Communists should try to win reforms through peaceful means.
B
Running for office at the local and national level will bring about change.
C
Communists should hide their views from the public, and plot in secret.
D
Violence is necessary to do away with the capitalist system.
8

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally leads him to prefer that employment which is most advantageous to the society.

A
It causes people to seek out high-paying jobs.
B
It encourages people to be more benevolent.
C
It causes people to behave more cautiously.
D
It encourages employers to pay high wages.
9

How does the economy of Cuba differ from the economy of North Korea?

A
In North Korea, the government’s control of the economy has begun to loosen. In Cuba, the government maintains a tight hold over the economy.
B
In Cuba, the government’s control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.
C
In North Korea, there is economic uncertainty in exchange for individual choice. In Cuba, there is economic security in exchange for government control.
D
In Cuba, there is economic uncertainty in exchange for individual choice. In North Korea, there is economic security in exchange for government control.
10

A command economy tends to exist under a

A
democratic government that provides little regulation.
B
socialist government that provides some regulation.
C
representative government that provides no regulation.
D
communist government that provides a lot of regulation.
11

The goal of a market economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
12

How can the government reduce the wealth gap in a mixed market economy?

A
The government can control income levels by placing limits on how much citizens can earn.
B
The government can eliminate minimum wages for workers to account for economic differences.
C
The government can improve education to provide new opportunities for workers in the lower class.
D
The government can tax members of the wealthy class at a lower rate to address differences in income.
13

In a socialist economy, what typically influences the prices of national goods and services in key industries?

A
the government of the country
B
the law of supply and demand
C
a committee of business leaders
D
a group of politicians from all parties
14

The goal of a command economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
15

In a laissez-faire economy, the government plays a

A
limited role.
B
indefinite role.
C
dominant role.
D
dependent role.
16

Which statement is characteristic of a communist system? Choose four answers.The government controls the means of production.Prices and wages are set by supply and demand.The government regulates a centrally planned economy.Entrepreneurs are encouraged to take risks.Prices and wages are set by the government.Businesses are free to follow their own best interests.A single authoritarian party holds complete power.

A
The government controls the means of production.
B
Prices and wages are set by supply and demand.
C
The government regulates a centrally planned economy.
D
Entrepreneurs are encouraged to take risks.
E
Prices and wages are set by the government.
F
Businesses are free to follow their own best interests.
G
A single authoritarian party holds complete power.
17

Which statement best describes a mixed market economy?

A
Consumer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
18

Who owns most farms and factories in a capitalist economy?

A
private banks
B
private individuals
C
state governments
D
national governments
19

Which statement best describes a command economy?

A
Government intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
20

Socialists believe that to improve the lives of the people, the government should

A
take control of the press.
B
ban all political parties.
C
take control of the economy.
D
emphasize private ownership.

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