Marxism and Capitalism Concepts

The video discusses Marxism, a political ideology by Karl Marx, promoting a classless society and communism. It highlights the application of Marxism in countries like the USSR and China. The video also covers laissez-faire, a concept by Adam Smith advocating minimal government intervention, and capitalism, which became prominent during the Industrial Revolution, emphasizing private ownership and free markets.

Who were the creators of Marxism?

• Mao Zedong and Fidel Castro

• Vladimir Lenin and Joseph Stalin

• Karl Marx and Friedrich Engels

• Adam Smith and John Keynes

What is the main goal of a classless society according to Marxism?

• To eliminate social class discrimination

• To establish a monarchy

• To increase government control

• To promote free market competition

Which countries are mentioned as current communist states?

• China, India, Brazil, South Africa

• Germany, France, Italy, Spain

• Russia, North Korea, Venezuela, Cuba

• China, Vietnam, Cuba, Laos

What does the term 'laissez-faire' mean?

• Economic equality

• Public ownership

• Leave it alone

• Government intervention

Who is associated with the concept of the 'invisible hand'?

• John Maynard Keynes

• Friedrich Engels

• Karl Marx

• Adam Smith

During which period did capitalism become widely used?

• The Renaissance

• The Industrial Revolution

• The Enlightenment

• The Middle Ages

What was the purpose of the Factory Act of 1833?

• To increase factory production

• To limit working hours for children and women

• To establish new factories

• To promote international trade

What does capitalism promote?

• Public ownership of resources

• Government control of markets

• Private ownership and competitive markets

• Equal distribution of wealth

Which economic system became dominant in the Western world after feudalism?

• Communism

• Socialism

• Feudalism

• Capitalism

Which African country is mentioned as having a capitalist system?

• Nigeria

• Somalia

• Egypt

• South Africa