1 Socialism: core ideas and principles

Question 1

KEY TERMINOLOGY - collectivism

Answer 1

to cover how collective human effort is both of
greater practical value to the economy and moral value to
society than the effort of individuals

Question 2

KEY TERMINOLOGY - common humanity

Answer 2

– to cover the nature of humans as social creatures with a tendency to co-operation, sociability and
rationality, and how the individual cannot be understood
without reference to society, as human behaviour is socially
determined

Question 3

KEY TERMINOLOGY - equality

Answer 3

is a fundamental value of socialism – to cover the
disagreements among socialists about the nature of equality
and how it is critical to the state, society, the economy and
human nature

Question 4

KEY TERMINOLOGY - social class

Answer 4

a group of people in society who have the same socioeconomic status – to cover the extent to which class impacts on socialists’ views of society, the state and the economy

Question 5

KEY TERMINOLOGY - workers’ control

Answer 5

to cover the importance and the extent of
control over the economy and/or state and how it is to be achieved.

Question 6

KEY TERMINOLOGY - Fraternity

Answer 6

humans bound together by comradeship
and a common outlook, because they share the same basic nature and interests,
while differences due to class, religion, nationality and ethnic background are far
less significant.

Question 7

KEY TERMINOLOGY - Cooperation

Answer 7

Working collectively to achieve mutual benefits.

Question 8

KEY TERMINOLOGY - Capitalism

Answer 8

Financial system in which wealth is privately owned and goods and
services are produced for profit, as determined by market forces.

Question 9

KEY TERMINOLOGY - Common ownership

Answer 9

The common ownership of the means of production so
that all are able to participate in its running and to benefit from the wealth of society.