Question

Question 1

1. In planned socialism, the state would own the means of production.

   True

   False

1 points   

Question 2

1. GDP per capita in developed capitalist economies has been stagnant since 1950s

   True

   False

1 points   

Question 3

1. According to the text, it is reasonable to argue that

   		socialist systems (both planned and market) are likely to have a more nearly equal distribution of income than market capitalism
   		there is in fact a generally accepted paradigm of the socialist economic system
   		under socialism, the distribution of income will be about the same as under market capitalism
   		none of the above.

1 points   

Question 4

1. According to Marx, under socialism, the state would be a dictatorship of the proletariat.

   True

   False

Answer 1

1. True, in a planned socialism state owns the means of production while in capitalism, it is the capitalists who owns the means of production.

2. False, GDP per capita has seen exponential rise in developed capitalist economies since 1950's.

3. True, it can be argued that under socialism there will be more redistribution of income and wealth than in comparision to a capitalist system. The reason for this is that because capitalist system is built on the premise of equality in the society while in a capitalist model, economic gains becomes more concentrated in the hands of capitalists.

4. True, as per Marx in socialism " the state would be a dictatorship of the proletariat" because of taking full control over resources of production.

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