Let’s go step by step to answer each question clearly and correctly.
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Communism Side:
1.
What is the goal of communism?
→ The goal is to create a society where everything is shared equally, and all people are treated equally — no rich or poor, everyone gets what they need.
2.
List the 5 things the government owns/controls:
→ Property, Education, Transportation, Agriculture, and Means of Production (like factories and machines).
3.
Who is Karl Marx?
→ He was a German philosopher who believed that the government should own everything so there’s no inequality.
→ His beliefs are called Marxism.
4.
Who led the communist revolution in Russia in 1917?
→ Vladimir Lenin led it.
5.
After the switch to communism, what was Russia called?
→ It became known as the Soviet Union.
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Capitalism Side:
1.
Who owns businesses in a capitalist system?
→ People own businesses privately — not the government.
2.
What is a “free market”?
→ It means buyers and sellers can trade freely without the government controlling prices or production.
3.
Who decides what products to make and how much they cost?
→ Businesses decide based on what customers want and what will sell.
4.
Who is Adam Smith?
→ He was a Scottish economist who wrote about how free markets work best when left alone.
→ He said pricing is determined by competition — if many companies sell the same thing, prices stay fair.
5.
In modern capitalism, what role does the government play?
→ Even though it’s mostly free, the government still makes rules to protect workers, consumers, and the environment — like setting minimum wage or safety standards.
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Final Answer:
Communism Answers:
1. To form a society where everything is shared equally, and all people are treated equally.
2. Property, Education, Transportation, Agriculture, and Means of Production.
3. Karl Marx was a German philosopher who believed everything should be owned by the government; his beliefs are called Marxism.
4. Vladimir Lenin.
5. The Soviet Union.
Capitalism Answers:
1. People own businesses privately.
2. A market free from government control, where supply and demand set prices.
3. Businesses decide what to make and how much to charge.
4. Adam Smith was a Scottish economist who described how free markets work; he said competition determines pricing.
5. In modern capitalism, the government sets rules to protect people and ensure fairness, but doesn’t run businesses.
Parent Tip: Review the logic above to help your child master the concept of capitalism worksheet.
