Communism and the 1917 Revolution

Questions and Answers

Goods and services are produced in an economy that is controlled by a centralised organisation. (correct)

Goods and services are produced for individual profit.

Goods and services are produced with limited governmental control.

Goods and services are privately owned.

Socialism aims for class equality.

Socialism promotes centralised ownership.

Communism does not recognize any classes or states. (correct)

Communism allows for private property.

Goods are restricted to government officials.

Goods are shared based on individual earnings.

Goods are shared equally for food and common goods. (correct)

Goods are utilized based on market demand.

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<p>Private property.</p> Signup and view all the answers

Study Notes

A significant political and economic ideology advocating for equal sharing of resources.
Involves centralized control over both production and distribution of wealth.

Goods and services produced in an economy are publicly shared, eliminating private ownership.
A central organization plans and controls the production and distribution of goods and services.

Communism is characterized as a variant of capitalism but seeks to abolish class distinctions and private property.
Socialism focuses on a broader system that balances economic, political, and production aspects towards common welfare.
In communism, there are no social classes or states, whereas socialism may operate within a state framework.
Communism mandates that all goods are shared equally, while socialism aims for equitable distribution but can allow for individual ownership.
Socialism arose in the 1800s, emphasizing shared wealth and prioritizing collective interest over individual interests.