The Economic System Characterized by Private Ownership of Resources and by Markets

question 33

Multiple Choice

The economic system characterized by private ownership of resources and by markets is :

• A) capitalism.
• B) communism.
• C) fascism.
• D) socialism.

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Definitions:

Joseph Stalin

The leader of the Soviet Union from the mid-1920s until his death in 1953, known for his totalitarian rule, implementation of socialism, and the significant human cost of his policies.

Soviet Union

A socialist state that existed from 1922 to 1991, comprising Russia and several other republics, and was a major world power during the 20th century.

Lenin's Death

Refers to the death of Vladimir Lenin in 1924, which marked the end of his leadership of the Soviet Union and initiated a struggle for power.

Tsarina Alexandra

The last Empress of Russia, wife of Tsar Nicholas II, known for her influence at court and connection to the mystic Rasputin.