Communism v.s Capitalism Flashcards
1
Q
Capitalist Superpower
A
USA
2
Q
Communism Superpower
A
Russia / China
3
Q
What is communism ?
A
a political party that advocates class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
4
Q
What is capitalism ?
A
an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
5
Q
Free enterprise
A
To set up your own business independent of the government (This is not allowed by communism)
6
Q
Poverty Gap
A
When there is a big difference between the upper class and the lower class which causes drastic economic changes
7
Q
Financial Equality
A
When every person gets equal pay
