THE COLD WAR 1950 1973
THE COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Everything is shared equally among the citizens
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Factories, equipment, and other means of production are all privately owned
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The middle class must work in agriculture or industry
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The government redistributes all of the resources to the citizens
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Detailed explanation-1: -Private property: This is one of the most important characteristics of capitalism where private properties like factories, machines, and equipment can be owned by private individuals or companies.
Detailed explanation-2: -In a capitalist economy, capital assets-such as factories, mines, and railroads-can be privately owned and controlled, labor is purchased for money wages, capital gains accrue to private owners, and prices allocate capital and labor between competing uses (see “Supply and Demand”).
Detailed explanation-3: -The capitalist mode of production is characterized by private ownership of the means of production, extraction of surplus value by the owning class for the purpose of capital accumulation, wage-based labour and-at least as far as commodities are concerned-being market-based.
Detailed explanation-4: -Which statement best describes a capitalist economy? The production and allocation of goods and services is determined primarily through markets.
Detailed explanation-5: -There are three elements to the argument for capitalism, and while they connect in crucial ways they can be separately defined. Those three elements are (a) division of labor; (b) impersonal exchange based on prices; and (c) economies of scale based on knowledge.