WORLD HISTORY

COLD WAR ERA

IMPACT OF COLD WAR

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Under which form of government is the means of production and the national and capital resources owned by the government?

A	McCarthyism
B	Imperialism
C	Communism
D	Capitalism

Explanation:

Detailed explanation-1: -General socialism meaning is that there’s public ownership of the means of production. The law of demand and supply does not work under socialism. There’s no class in a socialist system, and everyone is regarded as the same.

Detailed explanation-2: -Socialism is an economic and political system based on collective ownership of the means of production. All legal production and distribution decisions are made by the government in a socialist system.

Detailed explanation-3: -Communism. Communism is a centralized form of government led by a single party that is often authoritarian in its rule.

Detailed explanation-4: -Communism is a form of government most frequently associated with the ideas of Karl Marx, a German philosopher who outlined his ideas for a utopian society in The Communist Manifesto, written in 1848. Marx believed that capitalism, with its emphasis on profit and private ownership, led to inequality among citizens.

There is 1 question to complete.