Socialism AFCAT Questions

AFCAT Indian Economy

Socialism MCQ Questions


7.
Karl Marx's distribution principle specifically associated with the later, more advanced stage of 'communism' (as distinct from socialism) is generally summarised, from his 'Critique of the Gotha Programme', as:
A.
'From each according to his property, to each according to his investment'
B.
'From each according to his ability, to each according to his contribution'
C.
'From each according to his ability, to each according to his need'
D.
'From each according to his vote, to each according to his popularity'
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ANSWER :
C. 'From each according to his ability, to each according to his need'
8.
A central socialist critique of unregulated capitalism holds that workers under this system tend to be:
A.
Entirely exempt from paying any form of taxation
B.
Overpaid relative to the value of goods they actually produce
C.
Exploited, since they do not receive the full value of what they produce through their labour, with a surplus instead accruing to the owners of capital
D.
Guaranteed an automatic, permanent right to company ownership
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ANSWER :
C. Exploited, since they do not receive the full value of what they produce through their labour, with a surplus instead accruing to the owners of capital
9.
A key socialist critique of capitalism holds that, left unregulated, capitalist economies tend to produce:
A.
Significant and growing economic inequality, as wealth and capital become increasingly concentrated among a relatively small class of owners
B.
An economy with absolutely no business cycles or fluctuations of any kind
C.
A complete and immediate elimination of all forms of poverty
D.
Perfectly equal income for every single citizen, with no variation whatsoever
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ANSWER :
A. Significant and growing economic inequality, as wealth and capital become increasingly concentrated among a relatively small class of owners
10.
Socialism, as a coherent ideology and political movement, emerged primarily as a reaction and response to which broader historical development?
A.
The end of the Second World War
B.
The invention of the internet and modern digital technology
C.
The Industrial Revolution, and the associated harsh working conditions, inequality, and perceived exploitation experienced by factory workers
D.
The discovery of the New World by European explorers
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ANSWER :
C. The Industrial Revolution, and the associated harsh working conditions, inequality, and perceived exploitation experienced by factory workers
11.
'Nationalisation', a policy commonly associated with socialist economic approaches, refers to:
A.
The renaming of a country's official national anthem
B.
The process by which a private company changes its registered name
C.
The process of granting citizenship to foreign nationals
D.
The transfer of ownership of previously privately owned industries or assets into government or state control
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ANSWER :
D. The transfer of ownership of previously privately owned industries or assets into government or state control
12.
Under a purely socialist economic system, the right to private ownership of major productive assets (such as large factories or extensive landholdings) is generally:
A.
Left completely unaffected, exactly as it would be under unregulated capitalism
B.
Significantly restricted or abolished altogether, in favour of collective or state ownership of such assets
C.
Expanded and strengthened well beyond what exists under typical capitalist economies
D.
Made entirely unconditional and absolute, with no restrictions of any kind
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ANSWER :
B. Significantly restricted or abolished altogether, in favour of collective or state ownership of such assets