capitalism
socialism
communism
vocab
history
100
three factors of production
What is land, labor, capital
100
father of modern day socialism
Who is Karl Marx
100
putting all small private farms under gov control is known as
What is collectivization
100
economic and political philosophy based on the idea that benefits of economic activity should be equitably distributed through a society
What is socialism
100
which leader of the Soviet Union first introduced five year plans in 1928
Who is Joseph Stalin
200
when supplies become plentiful, prices tend to drop
What is law of supply and demand
200
the working class
What is proletariat
200
who makes all the decisions in a communist nation
What is Communist Party
200
business owned by two or more individuals
What is partnership
200
which leader of China launched the Great Leap Forward in 1958
What is Mao Zedong
300
one disadvantage to being a corporation
What is taxed twice
300
what is a command economy
What is government makes all economic decisions
300
having religion, education, and industries all represent communism is which of Marx's theories
What is nature of the state
300
collectivist ideology which calls for state ownership of land and other productive property
What is communism
300
which leader of the Soviet Union first tried to loosen gov. control of businesses but caused shortages, increased prices and the closing of factories
Who is Mikhail Gorbachev
400
which type of business is most flexible
What is sole proprietorship
400
name two pros of socialism
What is equal distribution of necessities and services, eliminates inequalities, encourages workers to work together
400
the value of something is worth the amount of labor put into it is which Marx theory
What is Labor Theory of Value
400
the haves are known as
What is bourgeoisie
400
China was trying to catch up with which world superpower of industry
What is Britain
500
name two characteristics of capitalism
What is individual initiative, private ownership, profit, competition
500
name two cons of socialism
What is takes away people's decision on how they want to spend their income, poor work ethic, slower to take advantage of technology
500
class struggle is which of Marx's theories
What is View of History
500
restructuring the economy
What is perestroika
500
which Chinese leader created "Four Modernizations" in 1977
What is Deng Xiaoping
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