What is a similarity of capitalism, socialism, and communism? (5 points)
All three systems believe that the majority of workers are exploited for profit.
All three systems support rewards being allocated evenly among citizens.
They are all ideological systems that are products of the Industrial Revolution.
They are all political systems that support the government’s involvement.
7.
(06.03 MC)
What is a difference between capitalism and socialism? (5 points)
Capitalism supports very limited government involvement, and socialism supports government-owned means of economic production.
Capitalism favors the government establishing regulatory rules, and socialism favors government’s only role as preventing monopolies.
Capitalism supports government dictating economic policy, and socialism supports the "invisible hand of the market" dictating economic policy.
Capitalism favors the government setting wage amounts, and socialism favors wages changing according to supply and demand.
8.
(06.03 MC)
According to Marx’s theory of immiseration, what does capitalism eventually lead to? (5 points)
Revolution and a classless society
Unprecedented harmony and progress
A successful economic system
Largest percentage of worldwide wealth