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Political Ideologies and Economic Systems

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Political Ideologies and Economic Systems

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Questions and Answers

What is the primary difference between equity and equality?

Equality focuses on fairness, while equity focuses on need

Equality is a principle of capitalism, while equity is a principle of socialism

Equality is a principle of socialism, while equity is a principle of capitalism

Equality distributes resources evenly, while equity distributes resources based on need (correct)

Who wrote the Communist Manifesto?

Friedrich Nietzsche

Adam Smith

Karl Marx and Friedrich Engels (correct)

John Maynard Keynes

What is a key principle of socialism?

Private ownership of the means of production

Collective ownership of the means of production (correct)

Distribution of resources based on merit

Unequal distribution of resources based on social class

What is a key difference between communism and socialism?

Communism is a more radical form of socialism (A) Signup and view all the answers

What is a weakness of socialism as an economic and political system?

It can lead to inefficiencies and a lack of innovation (A) Signup and view all the answers

What is a key strength of socialism as an economic and political system?

It can lead to greater economic equality and social justice (B) Signup and view all the answers

What is a key challenge of communist regimes?

They often struggle to achieve their ideological goals in practice (D) Signup and view all the answers

What is a key similarity between equity and equality?

Both focus on fairness and justice (A) Signup and view all the answers

What is a key principle of capitalism?

Private ownership of the means of production (A) Signup and view all the answers

What is a key difference between capitalism and socialism?

Socialism advocates for collective ownership, while capitalism advocates for private ownership (A) Signup and view all the answers

What is a key reason why individuals should understand ideologies shaping society and governance?

So they can make informed decisions in a democratic society (A) Signup and view all the answers