8 Questions
What is the main goal of communism?
To establish a society where private property is non-existent
Who are the key figures in developing the theory and practice of communism?
Karl Marx and Friedrich Engels
Which nations have had nominally communist governments?
Soviet Union, China, and Cuba
Has there ever been a purely communist state that completely eliminated personal property, money, and class systems?
No, there has never been a purely communist state
What is a key characteristic of capitalism?
Private actors own and control capital assets
In capitalism, how is labor compensated?
By receiving money wages
What sets prices in a capitalist system?
Consumer preferences
Who controls capital assets in a capitalist system?
Private actors
Study Notes
Communism
- The main goal of communism is to establish a classless, stateless, and egalitarian society where the means of production are collectively owned and controlled.
Key Figures in Communism
- Karl Marx and Friedrich Engels are the key figures in developing the theory of communism, as outlined in their book "The Communist Manifesto".
- Vladimir Lenin, Mao Zedong, and Josef Stalin are notable figures who developed and implemented communist practices in various countries.
Communist Governments
- Several nations have had nominally communist governments, including the Soviet Union, China, North Korea, Cuba, and Vietnam.
Pure Communism
- There has never been a purely communist state that completely eliminated personal property, money, and class systems.
Capitalism
Key Characteristics
- A key characteristic of capitalism is the private ownership of the means of production and the creation of goods and services for profit.
Labor Compensation
- In capitalism, labor is compensated through wages and salaries.
Price Setting
- Prices are set by the market forces of supply and demand in a capitalist system.
Control of Capital Assets
- In a capitalist system, private individuals and corporations control capital assets.
Test your knowledge about the economic and political ideology of communism, its advocates, and its opposition to liberal democracy and capitalism. Explore the history and practice of communism in nations like the former Soviet Union, China, and Cuba.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
