economics: section 12.1

1. Confiscate private property

2. Limit economic competition 

3. Government monopolies 

4. Ration resources 

5. Control of labor unions 

6. Nationalize banking 

7. Government control of wages

list the goals of the command economy. (there are 7)

nationalism

promoting and supporting a nation regardless of moral or ethical code

communism 

an economic system based on the government control of production, distribution, and consumption of goods

government control

fill in the blank 

communism is an economic system based on the _________ _____ of production, distribution, and consumption of goods

• violence

• revolution

fill in the blank

communism is usually associated with _________ and _________

karl marx

founder of communism

communist manifesto 

fill in the blank 

karl marx created the basic principles of communism in his book The __________ _________

bourgeois

property owners who are the cause of economic problems

proletariat

the common, “poor” working class

class struggle 

fill in the blank 

history is a _____ _______ between the middle class property owners and the poor working class

condition

fill in the blank

marx advocated for equality of _________; there is no rich or poor, but everyone as the same standing

karl marx

who said: “From each according to his ability, to each according to his needs”?

utopia

a world in which all goods, money, and labor will be shared equally among the people; a perfect society

bolshevik revolution 

first communist revolution in history (1917)

vladimir Putin

fill in the blank

the bolshevik revolution was led by ______ _____