Som Chapter 2

In the early 20th century, communists differed from social democrats in that communists believed in

a strategy of revolutionary action.

Karl Marx would agree that _____.

capitalists take the value created by workers for their own use

Nations adopting the pure form of democracy would

directly involve citizens in the decision making of the country.

In a pure ______ economy, all productive activities are owned privately—not by the state.

market

______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body.

Democracy

Social democrats advocate for _____.

achieving socialism through non-violent means

Political systems that emphasize individualism tend to promote _____.

democracy

True or False: According to Karl Marx, the pay of workers in a capitalist society reflects the full value of their labor.

false

The political economy of a country refers to the interaction of the political, economic, and _____ systems of a country.

legal

In a ______ economy, both private enterprise and state ownership co-exist.

mixed

The system of government in a nation is called the _____ system.

political

The term ______ refers to the interconnection of the political, economic, and legal systems of a country.

political economy

In a(n) ______ democracy, elected individuals represent the citizens and make decisions on behalf of the electorate.

representative

Collectivism refers to a political system that

restricts an individual's right to do something on the grounds that it runs counter to the "good of society."

The production of goods in a pure market economy is determined by

supply and demand.

In a command economy, businesses are owned by _____.

the state

What is the objective of a pure command economy?

Allotment of resources for the overall good of society

______ refers to a political system that values the needs of society over that of an individual.

Collectivism

Which statement BEST describes a totalitarian system?

It is a form of government in which the state recognizes no limits to its authority and strives to regulate all aspects of public and private life.

Companies wishing to pursue business opportunities in Sweden would find that while some industries are privately owned, others are state-controlled. What type of economy does this represent?

Mixed