Question

lesson 5: democracy and self - rule (1750 - 1919)
1 labor movements, socialism and change in europe
match each term with the correct description.
means of production
a. examples are factories and mines
capitalism
b. the difference between a business owners income and expenses, such as worker wages
surplus value
c. an economic system in which business is privately owned
proletariat
d. an economic system in which business is government - owned
socialism
e. workers

Explanation:

• Means of production: This refers to the resources and tools used to produce goods and services. Factories and mines are examples of means of production as they are essential for manufacturing and extracting resources respectively.
• Capitalism: It is an economic system where businesses are privately owned. The goal is to make a profit, and the means of production are in the hands of private individuals or companies.
• Surplus value: This is the difference between what a business owner earns (revenue from selling goods or services) and what they spend (costs like worker wages, raw materials, etc.).
• Proletariat: This term refers to the working - class people. In the context of economic systems, they are the ones who sell their labor (e.g., workers in factories).
• Socialism: It is an economic system in which the means of production (like businesses) are government - owned. The aim is often to ensure more equitable distribution of resources and wealth.

Answer:

• Means of production: A. Examples are factories and mines
• Capitalism: C. An economic system in which business is privately owned
• Surplus value: B. The difference between a business owner's income and expenses, such as worker wages
• Proletariat: E. Workers
• Socialism: D. An economic system in which business is government - owned