Economic Systems: Capitalism, Socialism, Communism

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Questions and Answers

In a capitalist system, what is the typical role of the government?

  • To have a limited role. (correct)
  • To directly manage the distribution of goods and services.
  • To control all aspects of the economy.
  • To own the means of production.

What concept supports the idea of a limited government role in a capitalist system?

  • The dictatorship of the proletariat.
  • Central planning.
  • The Communist Manifesto.
  • The invisible hand. (correct)

Why was 19th-century capitalism considered an unfair system by some?

  • Because of the extreme wealth disparity it created. (correct)
  • Because it eliminated class struggle.
  • Due to the lack of technological advancements.
  • Because it focused on collective ownership.

In a socialist system, what role does the government typically play in the economy?

<p>Control of almost all aspects of the economy. (B)</p> Signup and view all the answers

According to Marx, what would ultimately happen in a socialist society?

<p>The means of production would be owned collectively, leading to a classless society. (A)</p> Signup and view all the answers

In a communist system, what is the role of the government regarding the economy?

<p>To directly manage the entire economy and the distribution of goods and services. (B)</p> Signup and view all the answers

What is the primary goal of a communist society according to the traditional theory?

<p>To create a completely classless society. (B)</p> Signup and view all the answers

Which of the following best describes the political system in Russia described in the text?

<p>A single-party government that dominates, with only one legal political party. (A)</p> Signup and view all the answers

What was a major contributing factor to the strain on the Russian government leading up to the Russian Revolution?

<p>The impact of World War I. (B)</p> Signup and view all the answers

What was Lenin's view regarding the Russian working class before the Revolution?

<p>They were not yet developed enough to revolt on their own. (C)</p> Signup and view all the answers

What was the primary purpose of the Cheka during the Bolshevik revolution?

<p>To suppress opposition through terror and executions. (B)</p> Signup and view all the answers

What kind of economic practices did Lenin incorporate into the New Economic Policy?

<p>Limited private property ownership. (A)</p> Signup and view all the answers

What would have most likely happened if World War I had not taken place?

<p>The Russian Revolution may still have occurred due to internal issues. (D)</p> Signup and view all the answers

Which of the following was NOT a major problem faced by Russian troops on the Eastern Front of World War I?

<p>Submarine attacks (B)</p> Signup and view all the answers

What action by the Russian government prior to 1917 created a major source of social unrest?

<p>The 1905 repression (B)</p> Signup and view all the answers

What was a significant aspect of the February Revolution of 1917, as stated in the content?

<p>It was the culmination of mounting social inequality and discontent. (A)</p> Signup and view all the answers

Flashcards

Capitalism

A system where private individuals own and control the means of production, competing freely in the market.

The Invisible Hand

The idea that individuals pursuing their own self-interest in a free market unintentionally benefit society as a whole.

Economic Inequality

The uneven distribution of wealth and resources among different groups in society. Common in capitalist systems.

Socialism

A political and economic system where the government controls and manages most aspects of the economy.

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Classless Society in Socialism

The goal of socialism to create a society where the means of production are owned and controlled by the people collectively, eliminating class struggle.

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Communism

A system where the government completely controls the economy, including production, distribution, and ownership of resources.

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Classless Society in Communism

A communist society where class distinctions disappear, and everyone is equal.

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Single-Party State

A political system where the government is dominated by a single political party, often with a focus on centralized control and ideology.

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What was the February Revolution?

The February Revolution of 1917 led to the abdication of Tsar Nicholas II and established a Provisional Government.

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What was Lenin's perspective on the Russian Revolution?

Lenin believed that a socialist revolution was necessary in Russia, but argued that the proletariat (working class) needed guidance and support to achieve it.

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How did the Bolsheviks maintain control?

The Bolsheviks, led by Lenin, used the Cheka, a secret police force, to suppress opposition and eliminate suspected counter-revolutionaries.

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What was Lenin's New Economic Policy?

The New Economic Policy allowed limited private ownership and capitalist measures, aiming to stabilize the Soviet economy after the civil war.

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Was World War I the only cause of the Russian Revolution?

The Russian Revolution could have occurred even without World War I, due to internal factors like political repression, economic hardships, and social inequality.

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What was a major problem faced by Russian troops in World War I?

The lack of manpower on the Eastern Front was a significant problem for Russian troops during World War I.

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What were the main factors that led to the Russian Revolution?

The following were key factors leading to the Russian Revolution: discontent among peasants and workers, scandals involving Rasputin, Russia's failures in World War I, the failure of the Duma, and opposition from the communists.

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What was the Russian Revolution about?

The Russian Revolution was a period of immense change and upheaval that ultimately led to the establishment of the Soviet Union.

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Study Notes

Capitalism

  • Private ownership of industry is a core principle.
  • Freedom of competition is a hallmark.
  • Unequal economic classes result.
  • Government role is limited, supporting the "invisible hand" concept, which suggests the market regulates itself through competition.
  • Capitalism was viewed as unfair in the 19th century due to extreme wealth disparities.
  • Government control of the economy is a defining feature of socialism.

Socialism

  • Government controls almost all aspects of the economy.
  • Marx predicted a classless society, with the means of production collectively owned by the people.

Communism

  • Government completely controls the entire economy, managing the distribution of goods and services directly.
  • The goal is a classless society.

Russian Revolution

  • Tsar Nicholas II's actions eroded public trust and created a power vacuum, leading to the revolution.
  • World War I strained the Russian economy, causing hardship and military losses.
  • Lenin adapted Marxist ideas to fit Russian society, arguing for the necessity of a proletarian revolution.
  • Lenin and Trotsky used brutality and terror, including the Cheka, to win the civil war.
  • Lenin incorporated capitalist measures into the New Economic Policy, allowing for private ownership of small businesses and some agricultural production, while retaining state control over large industries.

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