871. What is socialism?
A) An economic system where the means of production are owned and controlled by the state or the community.
B) An economic system where private individuals and businesses own and control the means of production.
C) An economic system based on individual initiative and competition.
D) An economic system that eliminates collective ownership.
872. In socialism, who owns and controls the means of production?
A) The state or the community owns and controls the means of production.
B) Private individuals and businesses own and control the means of production.
C) Ownership of the means of production is irrelevant.
D) The means of production are collectively owned by society.
873. What is the role of individuals in socialism?
A) Individuals play a role in decision-making, but the state or community has significant control over resource allocation and production decisions.
B) Individuals have complete control over resource allocation and production decisions.
C) Individuals play no role in socialism.
D) Individuals follow the directives of the government.
874. How are prices determined in socialism?
A) Prices are often set or influenced by the state or central planning.
B) Prices are determined by the forces of supply and demand in the market.
C) Prices are irrelevant in socialism.
D) Prices are determined by individual preferences.
875. How does socialism address the issue of competition?
A) Socialism may limit competition, with the state or community controlling key industries.
B) Socialism encourages competition among private individuals and businesses.
C) Competition is irrelevant in socialism.
D) Socialism promotes intense competition.
876. How are profits distributed in socialism?
A) Profits are often controlled and distributed by the state for the benefit of society.
B) Profits are distributed to private individuals and businesses.
C) Profits are irrelevant in socialism.
D) Profits are eliminated in socialism.
877. What role does the government play in socialism?
A) The government, representing the state or community, has a significant role in planning and controlling economic activities.
B) The government has a limited role, primarily focused on enforcing property rights.
C) The government controls and directs all economic activities in socialism.
D) The government is solely responsible for enforcing contracts in socialism.
878. How does socialism respond to consumer choices?
A) Socialism may limit consumer choices, with the state or community influencing decisions based on collective needs.
B) Consumer choices are irrelevant in socialism.
C) Socialism provides a wide range of consumer choices through competition.
D) The government determines consumer choices in socialism.
879. In socialism, how is production planned?
A) Production is often centrally planned by the state or community to meet collective needs.
B) Production is determined by private individuals and businesses responding to market demand.
C) Production is irrelevant in socialism.
D) Production is determined collectively by society.
880. How does socialism address income inequality?
A) Socialism aims to eliminate or minimize income inequality through state intervention.
B) Income inequality is irrelevant in socialism.
C) Socialism promotes income inequality.
D) The government controls and distributes income in socialism.
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