Imprimir Froggy Jumps: Capitalism vs communism (economics)

1. Under capitalism, the means of production are privately owned.

A

True

B

False

C

I do not know

2. Communism promotes private ownership of the means of production.

A

True

B

False

C

I do not know

3. Capitalism is based on competition and the pursuit of individual profit.

A

True

B

False

C

I do not know

4. In a communist system, the state plays an important role in the planning and distribution of resources.

A

True

B

False

C

I do not know

5. In communism, equality of income and wealth is sought among all citizens.

A

True

B

False

C

I do not know

6. In capitalism, prices of goods and services are primarily determined by supply and demand.

A

True

B

False

C

I do not know

7. In communism, there is no concept of social classes.

A

True

B

False

C

I do not know

8. Communism seeks the abolition of private property.

A

True

B

False

C

I do not know