Planned Economies and Communism
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following accurately describes a planned economy?

  • A planned economy is characterized by minimal government intervention.
  • A planned economy is also known as a free market economy.
  • In a planned economy, the state does not own and control the factors of production. (correct)
  • A planned economy is synonymous with communism.
  • Which statement is true regarding Karl Marx's vision of communism?

  • Karl Marx's vision of communism is synonymous with state capitalism.
  • Karl Marx's vision of communism is synonymous with a free market economy.
  • Karl Marx's vision of communism includes the presence of private property and a class-based society.
  • Karl Marx's vision of communism includes the absence of private property and a classless society. (correct)
  • What term is often used to describe the economic systems in the USSR and China?

  • Planned economies
  • Free market economies
  • Command economies
  • State capitalism (correct)
  • What is a key characteristic of a free market economy?

    <p>Private ownership of the factors of production with minimal government intervention.</p> Signup and view all the answers

    What drives market equilibrium in a free market economy?

    <p>Individuals pursuing profits and consumers' choices</p> Signup and view all the answers

    More Like This

    Chapter 7
    26 questions

    Chapter 7

    CharismaticOrangutan avatar
    CharismaticOrangutan
    Types of Economic Systems
    18 questions

    Types of Economic Systems

    MiraculousGallium avatar
    MiraculousGallium
    chp 2 - mock exam
    50 questions

    chp 2 - mock exam

    WondrousRealism avatar
    WondrousRealism
    Use Quizgecko on...
    Browser
    Browser