Page 07 Self-Guided Notes (Socialism)

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Multiple Choice

Who makes the decisions in a captialist economy?

• The People or Citizens (You and Me)

• The Government

Multiple Choice

How are prices set in a capitalist economy?

• Prices are set by what people buy and sell

• Prices are set by the government

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Multiple Choice

What is the definition of socialism?

• The idea that the means of production, distribution and exchange should be owned and regulated by the community as a whole.

• The idea that all free men over the age of 21 of good standing should have the right to vote.

• The idea that women should have equal political, social and economic rights as men.

• The idea that a country’s trade and industry should be controlled by private owners for profit, rather than by the state.

Multiple Choice

Socialism was an alternative to what movement?

• Communism

• Nationalism

• Feminism

• Capitalism

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Multiple Choice

What is a common critique of socialism we saw in the previous two drawings?

• Socialism "steals" hard-earned property.

• Socialism favors the rich over the poor.

• Socialism doesn't take care of poor people.

• Socialism promotes racism.

Multiple Choice

What is the definition of socialism?

• The idea that the means of production, distribution and exchange should be owned and regulated by the community as a whole.

• The idea that all free men over the age of 21 of good standing should have the right to vote.

• The idea that women should have equal political, social and economic rights as men.

• The idea that a country’s trade and industry should be controlled by private owners for profit, rather than by the state.

Multiple Choice

What is the goal of socialism?

• When a business does well the workers should receive MOST of the rewards?

• When a business does well the workers should receive ALL of the rewards?

• When a business does well the workers should receive SOME of the rewards?

• When a business does well the workers should not have to work as long and hard the next time.

Multiple Select

Which of the following outlines various forms of socialist policy within a capitalist society?

• When a company shares wealth directly though making workers the owners (A cooperative)

• When large companies are nationalized and regulated by govt to make sure that they take care of workers and society.

• When government takes over ALL companies and redistributes the profits for the benefit of the workers.

• When a government taxes private companies and uses tax revenue to provide all citizens with important benefits like free schools, hospitals and public transportation.

Open Ended

Why is it important to understand that free trade had been a reality in the world before Capitalism was formalized? What idea or story do we suffer from when we think that European society kick started free trade in the 17th and 18th century - what is the danger of a single story narrative? The video attached to this question may help you answer this question.