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Question 1 (4 points)
What is capitalism? (4 points)

a
A free market system in which people go into business to make a profit

b
A free market system in which government sets prices and earns profit

c
A system in which businesses are owned in common or by the government

d
A system in which businesses and all property are owned by the government

Question 2 (4 points)
Who owns the resources in socialism? (4 points)

a
Individuals

b
Military leaders

c
The common people

d
The government

Question 3 (4 points)
Who owns the resources in communism? (4 points)

a
Individuals

b
Military leaders

c
The common people

d
The government

Question 4 (4 points)
What role does the government take in communism? (4 points)

a
It does not interfere with business or trade.

b
It limits rules on trade with other nations.

c
It decides how to spread resources to people.

d
It lets people own private property and resources.

Question 5 (4 points)
What role does the government take in capitalism? (4 points)

a
It takes a limited or no role in business or trade.

b
It makes rules to prevent trade with other nations.

c
It has people vote on how to share resources.

d
It assigns businesses to certain people to run.

Question 6 (4 points)
How is capitalism different than socialism? (4 points)

a
Socialism depends on the forces of supply and demand.

b
Capitalism gets rid of the divisions between social classes.

c
Socialism most values the choices made by individuals.

d
Capitalism relies on a market economy to regulate itself.

Sagot :

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Answer:

1. A

2. D

3. D

4. C

5. A

6. C(?)

Explanation:

1.Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

2.Socialism is an economic system where everyone in society equally owns the factors of production. 1 That ownership is acquired through a democratically elected government or through a cooperative or a public corporation in which everyone owns shares.

3 and 4.Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided. 

5.In a capitalist economy, the role of government is very limited. The main functions of government, as given by Adam Smith, are to maintain law and order in a country, make national defense stronger, and regulate money supply. According to Smith, the market system administers various economic functions.

6. Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.

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