What are the key differences between a capitalist and a socialist economy?
What will be an ideal response?
The capitalist system is based on the working of the market. The means of production (industry, business, and land) are privately owned and decisions about production and distribution are left to individuals. Decisions about production and price are determined by the market as the people typically do not believe that the government is capable of making such decisions. Laissez-faire capitalism is an extreme example of this economic approach. In a socialist economy it is the government that makes economic decisions, based on their beliefs about what society needs. In this system the government owns the means of production and politicians make decisions regarding product distribution. Those decisions are typically based on equality, need, or political reward. This economic approach often leads to repressive political regimes. China, North Korea, and Cuba are examples of countries that still claim some measure of allegiance to the socialist economic system.
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Which statement about presidential decrees is CORRECT? a. They have been used more extensively by Putin and Medvedev than Yeltsin
b. Presidential decrees have not been used to affect the bureaucracy. c. Such decrees cannot violate the constitution but can violate specific pieces of legislation. d. They must be approved by the Russian Duma if they relate to deploying troops abroad. e. They allow presidents to ignore uncooperative parliaments.
Which of the following contributed to the growth of the U.S. bureaucracy in the early to mid-1800s?
a. The spoils system b. The merit system c. The Civil Service Commission d. The rise of progressivism
The assertion that large corporations from developed nations created a situation in which companies in developing countries were reliant on them and unable to grow is the basis of ______.
a. orthodox liberalism b. patronage politics c. modernization theory d. dependency theory
The Soviet Union felt that the United Nations was too reliant on the United States and therefore could not be trusted
Indicate whether this statement is true or false