Econ Corner

What is the basic principle underlying communism.

• a) Private ownership of means of production

• b) Classless society 

• Monarchy 

• Ameritocracy

Who is considered the father of communism?

• a) Karl Marx 

• b) Adam Smith

•  c) John Locke

• d)Feredick Nitzeche

What are the main criticisms of capitalism according to communist ideology? 

• a) Inequality and exploitation

• b) Equal distribution of wealth

• c) Lack of competition

What is the main goal of communism?

• a) Equal distribution of wealth

• b) Free market economy

• c) Monarchy

• d) Class struggle

Who wrote the Communist Manifesto?

• a) Karl Marx

• b) Friedrich Engels

• c) Vladimir Lenin

• d) Leon Trotsky

Name three countries that have historically implemented 

communist governments. 

• a) Brazil, Canada, Australia 

• b) China, Soviet Union, Cuba

•  c) Germany, France, Italy 

Describe the role of the state in a communist society

• a) Limited government intervention

• b) Central planning and control 

• c) Anarchy 

How does communism address the issue of inequality?

• a) By promoting a merit-based system

• b) By advocating for wealth accumulation among the elite

• c) By striving for equal distribution of resources and opportunities

What economic system does communism advocate for? 

• a) Free market capitalism 

• b) Mixed economy 

• c) Command economy 

How does communism address the issue of private property?

•  a) Private property is encouraged

• b) Private property is abolished

•  c) Private property is regulated