history vocab

Question 1

Bourgeoisie

Answer 1

A social class of people who own the means of production, making them in the upper or merchant class.

Question 1

Laissez-Faire Economy:

Answer 1

no taxes. Instead, the market should be completely free to be led by the natural laws of supply and demand.

Question 2

Proletariat

Answer 2

the social class of wage earners, their economic value is the capacity to work.

Question 3

Capitalism

Answer 3

an economic and political system in which countries trade and industries are are controlled by private owners for profit. Mega wealth, competition and class struggles

Question 4

socialism

Answer 4

any political or economic theory that suggests that the community rather than individuals should own and manage property and natural resources.

Question 5

marxism

Answer 5

created by Carl Marx, it examines the effects of capitalism on labor, productivity, and economic development. it argues to overturn capitalism in favor of communism

Question 6

communism

Answer 6

Advocates for a classless society where everything is shared instead of individuals owning things.

Question 7

means of production

Answer 7

all the physical elements that go into producing goods and services