COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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restoration of a bartering system
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organization of workers’ unions
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government ownership of business and property
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private ownership of business and property
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Detailed explanation-1: -communism, political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production (e.g., mines, mills, and factories) and the natural resources of a society.
Detailed explanation-2: -Communism is based on the goal of eliminating socioeconomic class struggles by creating a classless society in which everyone shares the benefits of labor and the state controls all property and wealth.
Detailed explanation-3: -Communists believe that giving power to the laborers and abolishing the systems of wealth held by the Bourgeoisie creates a more equal society. The principles of Marxism rely on the idea of giving the Proletariat power.
Detailed explanation-4: -Key Takeaways Capitalism exhibits private ownership, profit motive, minimal government intervention, competitive market, capital accumulation, class system, etc. Communism exhibits common ownership, central planning, no competition, classless society, etc.