As economic theories, socialism and communism sought to
even out inequalities of wealth.
Explanation: promote economic, social, and political equality.Both socialism and communism are based on the idea that everyone in society should be treated equally and have the same opportunities. They both seek to promote economic, social, and political equality.
What moderate reforms did European socialists support? Check all that apply.
-assistance for the poor
-better working conditions
-minimum wage laws
Explanation: -Support for a mixed economy-Support for a welfare state-Support for nationalization of key industries-Support for worker cooperativesSocialists in Europe tended to support moderate reforms as opposed to more radical ones. This included support for a mixed economy, in which both the private sector and the public sector would play a role; support for a welfare state, in which the government would provide social services and safety nets for citizens; support for nationalization of key industries, such as utilities and transportation; and support for worker cooperatives, in which employees would have a say in how their workplace was run.
Which problems arose as a result of capitalism with little government oversight? Check all that apply.
-Businesses eventually exploited the working class.
-Workers who were injured on the job were not protected.
-There were vast inequalities between workers and owners.
-Big companies drove small companies out of business.
Explanation: -Many people became very wealthy while others remained poor-Working conditions were often poor and dangerous-Child labor was common-People were often exploited for their labor
Adam Smith believed that fair prices for goods are determined in a capitalist system
through competition between businesses.
Explanation: by the interaction of supply and demand in the marketplace.Adam Smith believed that in a capitalist system, fair prices for goods are determined by the interaction of supply and demand in the marketplace. He believed that the market would naturally adjust to ensure that prices are fair, and that the government should not interfere in the market.
In The Communist Manifesto, Karl Marx hypothesized that capitalism would fail if workers________.
Explanation: In The Communist Manifesto, Karl Marx hypothesized that capitalism would fail if workers were unable to form unions and negotiate better wages and working conditions. He believed that the capitalists would eventually become so wealthy that they would be unable to invest in new businesses and would instead hoard their money. This would lead to a decrease in demand for goods and services, and workers would be laid off. As the unemployed workers became more desperate, they would be willing to work for lower wages, and the cycle would continue until the workers were so poor that they could no longer afford to live.
Along with Karl Marx, the German philosopher who helped write The Communist Manifesto was ________
Explanation: The German philosopher who helped write The Communist Manifesto was Friedrich Engels.
According to Karl Marx, the economic ideas behind socialism would lead to a
Explanation: more classless, egalitarian societyIn Karl Marx's view, socialism is a natural result of the economic ideas behind it. These ideas would lead to a more classless, egalitarian society in which people would work together for the common good.
An economic theory that stresses government management of the production and distribution of goods is ________.
Explanation: The theory is socialism.
In a dictatorship of the proletariat, who controls the government?
Explanation: In a dictatorship of the proletariat, the working class holds power through the state. This power is used to repress the bourgeoisie and build socialism.
Karl Marx developed the economic theory of
Explanation: socialismKarl Marx's economic theory of socialism is based on his belief that the working class will rise up and overthrow the capitalist system. He believed that the working class would be able to create a more equal society, in which there would be no class distinctions. Marx's theory has been used to justify many socialist revolutions, including the Russian Revolution of 1917.
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