Economic systems & outcomes:
In this economic system, private individuals own businesses and seek profit.
What is capitalism?
This country was led by Vladimir Lenin after a revolution and became the world’s first communist state.
What is the Soviet Union?
This German philosopher, born in 1818, wrote Das Kapital and criticized capitalism.
Who is Karl Marx?
Marx believed history is shaped by ongoing conflict between these two groups
What are social classes (the bourgeoisie and the proletariat)?
This country, led by Mao Zedong, later introduced market reforms under Deng Xiaoping.
What is China?
This theory argues that the value of a product comes from the labor put into it.
What is the Labour Theory of Value?
One major weakness of the Soviet economy was this problem, where goods were often unavailable to consumers.
What are shortages of consumer goods?
After the Cuban Revolution, this leader established a communist government in Cuba.
Who is Fidel Castro?
This term describes the extra profit made when a product sells for more than the wages and material costs used to produce it.
What is surplus value?
Which of Marx's predictions still stand today?
What is markets being dominated by only few firms?
These areas in China allowed foreign investment and private business to boost economic growth.
What are Special Economic Zones?
This famous book, written with Friedrich Engels, called for workers to unite and overthrow the bourgeoisie.
What is The Communist Manifesto?