Capitalism, the Unknown Ideal Quiz | Eight Week Quiz B

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This quiz consists of 5 multiple choice and 5 short answer questions through Gold and Economic Freedom.

Multiple Choice Questions

1. What do the courts protect?
(a) Property.
(b) Labor unions.
(c) Criminals.
(d) Businesses.

2. What does the term "evils of monopoly" refer to?
(a) Corrupt monopoly.
(b) Corrosive monopoly.
(c) Coevasive monopoly.
(d) Coercive monopoly.

3. According to the author, in statism, who owns the members of the tribe?
(a) The elders.
(b) The tribe.
(c) The masses.
(d) The elite.

4. To function as a medium of exchange, an item must be durable and what?
(a) Sturdy.
(b) Scarce.
(c) Plentiful.
(d) Common.

5. What does political economy study?
(a) How scarce resources are used.
(b) How capital resources are used.
(c) How economic resources are used.
(d) How all resources are used.

Short Answer Questions

1. The bloodiest conflicts in history have been _______ _______.

2. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?

3. What is another word for statism?

4. According to classical economics, what is the basis of competition?

5. What does the author believe is the basic tool of business?

(see the answer key)

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