Chapter 29: Problem 14
In Marx's ideal communist society, the state a. actively promotes income equality. b. follows the doctrine of laissez faire. c. owns resources and conducts planning. d. does not exist.
Chapter 29: Problem 14
In Marx's ideal communist society, the state a. actively promotes income equality. b. follows the doctrine of laissez faire. c. owns resources and conducts planning. d. does not exist.
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Get started for freeThe economic system in which private individuals own the factors of production is a. a planned economy. b. capitalism. c. collectivism. d. socialism.
The economic system in which all of the basic decisions are made through a centralized authority, such as a government agency, is termed a a. market economy. b. capitalistic economy. c. command economy. d. traditional economy.
Karl Marx was a (an) a. nineteenth-century German philosopher. b. eighteenth-century Russian economist. c. fourteenth-century Polish banker. d. nineteenth-century Russian journalist.
Adam Smith stated that the role of government in society should be to a. provide defense. b. enforce contracts. c. do absolutely nothing. d. do both (a) and (b).
When making economic decisions, Adam Smith urged society to a. follow the principle of self interest. b. follow the principle of public interest. c. transfer wealth according to need. d. provide equal income for all citizens.
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