Comparative Economics

major decision-makers in the economy & government in communism

Which of the following is NOT a basic factor of production?

Who developed the basic concepts of communism

buildings, money, computers, etc.

In capitalism, one who takes risks

"The Communist Manifesto" said

What could be a common characteristic of communism anywhere?

Which was a way that reality of communism differed from Karl Marx's theory?

A business owned by two or more individuals

The government and private enterprise coexist as major participants in a

combining millions of small private farms into huge government-controlled farms

social and economic equality

After the fall of the Soviet Union which country lost it's aid and is struggling economically today?

socialism is often criticized most by capitalists for

When a government takes over major industries sometimes paying a fair price

Type of business organization subject to two taxes- both profits & dividends

knowledge and skills learned

If an item in a free market becomes more popular, the price will go up.

Under Marx, factory workers were considered members of the _______, or technically serfs.

several corporations come together to regulate prices

Marx envisioned communism in its final form as a

competition in a free market economy

Which of the following is NOT a modernization of Deng Xiaoping's?

When expenses of a business are more than the income earned, this is a

A concern socialists have about capitalism is

Which leader established communism in Vietnam with even the help of China?

individuals and companies decide what to produce and charge how much in a

Which of the following is NOT a reason why developing nations choose socialism over capitalism?

setting goals/targets for production in communism was called

most productive property is owned/operated by private individuals

In socialism, your taxes are much ___________ than capitalism.

Socialists in the mid-1800s split over

large farms in China where people were forced to work

public ownership of productive property combined with large centralized planning is

The ideas of socialism developed in large part as a

Which of the following is NOT a reason for the failure of communism in the Soviet Union?

An advantage of a sole proprietorship

when a single business has exclusive control over a product or service

Pure communism has never really happened because:

Which of the following countries is still communist today?

One area in which communist countries seem to be weak like North Korea, Cuba or Russia is

Under Marx, what was outlawed bc it made people accept their awful circumstances for a better afterlife?

Which Russian leader was so brutal that he killed over 30 million of his own people?

economic decision-making is centralized or government-operated in a

According to communist theory, the value of a commodity is determined by the