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Capitalism vs Socialism

Last updated about 5 years ago

10 questions

2

2

2

2

2

2

2

2

2

11

Question 1

1.

Economic system that allows for private ownership and competition.

Capitalism

Socialism

Question 2

2.

Economic system that favors government ownership of the means of production.

Capitalism

Socialism

Question 3

3.

The working class of the Industrial Revolution

Proletariat

Bourgeoisie

Question 4

4.

The factory owners during the Industrial Revolution

Proletariat

Bourgeoisie

Question 5

5.

Who wrote The Wealth of Nations

Adam Smith

Karl Marx

Question 6

6.

Who wrote The Communist Manifesto

Adam Smith

Karl Marx

Question 7

7.

Laissez Faire means that the government is not involved in business.

True

False

Question 8

8.

Which group would have supported capitalism

The working class

The business owners

Question 9

9.

Which group would have supported socialism

The working class

The business owners

Question 10

10.

Drag the statement to the the correct historical figure.

Viewed life as a constant struggle between "haves" and "have nots"
Belived that self interest and competition are good things that will help create better products at lower prices.
Saw the Industrial Revolution as a creating a widening gap. The rich get richer and the poor get poorer.
Supported ideas of Socialism.
Supported ideas of Capitalsim.
Would have said "Workers of the world, unite".
Favored privately owned property and businesses.
Believed that the state is more important than the individual.
Favored free market economy with supply and demand.
Believed that the government should not be involved in business.
Wanted there to be a classless society in which everyone is equal.

Karl Marx
Adam Smith