Which of the Following Is a Difference Between Communism and Socialism,as

question 1

Multiple Choice

Which of the following is a difference between communism and socialism,as described by the text?

• A)Under socialism,the government owns some firms,but under communism,the government does not own any major assets.
• B)Under communism,the government assumes total management of the economy,whereas under socialism,the government does not try to manage the overall economy.
• C)Under socialism,the economy operates mainly through private transactions,but under communism,the government owns a number of major industries and tries to provide for people's basic economic needs.
• D)Under communism,the government manages the economy completely but does not attempt to provide for people's basic needs; under socialism,the government does not manage the economy completely,but does attempt to provide for people's basic needs.
• E)Under socialism,the government owns more industries than a communist government,but provides less direct benefit for individuals' welfare.

---

Definitions:

Productivity

The measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used in the production process.

Capital Goods

Long-lasting goods that are used in the production of other goods or services and are not consumed in the process.

Economic Growth

A growth in the economy's output of goods and services over time, typically evaluated through the Gross Domestic Product (GDP).

Underemployment

Refers to the employment of workers in jobs that are below their skills level or part-time workers who would prefer to be full-time.