Online Quiz Chapter 4

Online Quiz Chapter 4 - Online Quiz Chapter 4 The system in...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Online Quiz Chapter 4 1 The system in which individual firms acquire the necessary factors of production, and workers control the enterprise and derive profits from it, is called: a. socialism. b. worker control socialism. c. communism. d. worker enterprise. status: correct (1.0) correct: b / Correct. 2 Following the Great Depression of the 1930s, more government intervention was necessary to heal the economy and smooth out the business cycles. That type of system in which government plays an active role in regulating economic activity is: a. socialism. b. regulatory capitalism. c. state welfare capitalism. d. fiscal policy. status: correct (1.0) correct: c / Correct. 3 The process by which the economies of many countries have become increasingly integrated is: a. globalization. b. multinational corporations. c. economic cooperation. d. political cooperation. status: correct (1.0) correct: a feedback: Correct. 4 ________ is central to capitalism. It assumes that economic self-interest motivates human beings.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
a. The profit motive b. Pyschological egoism c. The work ethic d. The utilitarian principle status: correct (1.0) correct: a feedback: Correct. 5 Adam Smith believed that ________ could steer the individual pursuit of self-interest in a socially beneficial direction. a. economic competition b. legal restraints c. government regulation d. socially responsible policies status: correct (1.0) correct: a feedback: Correct. 6 Both capitalism and socialism allow for the private ownership of personal property. Capitalism differs from socialism in that: a. it requires the private ownership of the major means of production and distribution. b. one is free to do whatever he wishes with his property. c. it puts strict restrictions on how much one person can own.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/13/2010 for the course CAST Ethhics taught by Professor Shak during the Spring '10 term at Rochester.

Page1 / 7

Online Quiz Chapter 4 - Online Quiz Chapter 4 The system in...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online