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Socialism Flashcards | StudBud

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Socialism

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#economic systems

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Questions 7

Answers

1
How are socialist Europeans countries different from US Capitalism?
USA tends to have higher rates of individuals in poverty
USA has less private ownership than European countries
USA has fewer uninsured than socialist countries
USA owns company like Ford where European countries don't
2
Which of the following aspects are part of socialism?
private ownership of businesses
government owns all the means of production
based on profit motive and competition
government ownership of certain base industries
3
What is a typical base industry owned by socialist country?
automobiles / cars
clothes
health care
bakery / bake goods
4
Socialist countries tend to have all of the following except
huge debt to pay for costly programs
inequality / high levels of poverty
high taxes
universal health care
5
T or F Socialist countries allows private ownership outside the government owned industries.
true
false
6
A socialist would most be concerned with
equality
competition
selfish ambition
profit
7
Why does socialist countries own some base industries like health care?
to encourage private ownership
to make sure everyone has health care regardless of wealth
to make sure poor people pay their bills
to make profit