Though the term “communism” can refer to specific political parties, at its core, communism is an ideology of economic equality through the elimination of private property. The beliefs of communism, most famously expressed by Karl Marx, center on the idea that inequality and suffering result from capitalism.

Which of the following systems believes that the role of the government is only to promote competition and provide public goods? Capitalism.

The answer is Capitalism is focused on the market and the individual, while socialism and communism value society collectively.

How does the view expressed in this excerpt compare with communist ideology? This view differs from communism because it argues against government control of the economy. capitalism is focused on the market and the individual, while socialism and communism value society collectively.

Marx termed these two classes the bourgeoisie (the wealthy owners) and the proletariat (the working class). In other words, under a capitalist system the bourgeoisie takes advantage of, or exploits, the proletariat.

A major goal of the Communist government was to develop an advanced, industrial economy. When the Communists took power in 1949, many of the country’s resources had been depleted by years of war.

Communism is based on the goal of eliminating socioeconomic class struggles by creating a classless society in which everyone shares the benefits of labor and the state controls all property and wealth.

If people were paid the same about for the same work output, then highly productive people would work much shorter hours and have much more time off, because they couldn’t earn more money by working more. The probable answer is lower productivity, since there would not exist merit or rewards for the same work.

Every time someone loses their job because of everyone’s increased Financial Literacy, that person can get a different job that gives people more of the things they want. Crime is another area that would tend to decrease if everyone was financially literate. And Crime is a triple whammy.

There would probably be less competition among employees trying to succeed and get promotions, everyone would most likely have the same wage, goods and services would probably match what that wage could afford, people wouldn’t feel the need to complain about someone having it better or worse than another person.

There are also wage differentials across occupations, because of differences in the demand and supply of laborers for particular jobs or occupations. These differences arise primarily because of differences in the amount of education or training required and in the desirability of the job itself.