QUESTION Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced? A. Barter B. Command C. Market D. Regulated E. Centrally planned ANSWER C A market economy is an economic system in which the interaction of supply […]
QUESTION Jewish law is an example of what type of law system? A. Autocratic B. Civil C. Common D. Theocratic E. Universal ANSWER D Jewish law is an example of a theocratic law system. Islamic law is the most widely practiced theocratic legal system in the modern world, although usage of both Hindu and […]
QUESTION Which of the following is true about the three main types of legal systems? A. Judges under a civil law system have more flexibility than those under a common law system. B. The common law system evolved in the United States over hundreds of years. C. Although Islamic law is primarily concerned with moral […]
QUESTION In what type of economy are all businesses state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals? A. Free market B. Deregulated C. Pure command D. Mixed E. […]
QUESTION In comparison to market economies, command economies lack: A. government interference in allocation of resources. B. dynamism and innovation. C. concern for the interests of the nation. D. commitment to communism. E. any opposition to private ownership. ANSWER B In a command economy, state-owned enterprises have little incentive to control costs and be […]
QUESTION In what type of economy are certain sectors of the economy left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning? A. Command B. Pure market C. Mixed D. Centrally planned E. Laissez-faire ANSWER C In a mixed economy, certain sectors of the […]
QUESTION Which of the following is a feature of representative democracy? A. Restrictions on an individual’s right to freedom of expression, opinion, and organization B. Inability of the citizens to vote out elected representatives who fail to perform their job adequately at the next election C. An unlimited term for elected representatives D. A court […]
QUESTION Which of the following is a form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties? A. Capitalism B. Totalitarianism C. Pure democracy D. Republicanism E. Representative democracy ANSWER B Totalitarianism is a form of government in which one […]
QUESTION Democracy, in its purest form, is based on the belief that: A. citizens should be directly involved in decision making. B. political freedom of the citizens should be limited. C. citizens are responsible for their own economic health and thus need no government. D. individual freedom in the economic sphere should be restricted. E. […]
QUESTION Which of the following applies to most totalitarian states? A. Free and fair elections are not denied to the citizens. B. There is free access to state information. C. All the basic civil liberties are granted to the citizens. D. The right to freedom of expression and organization is not curbed. E. Media are […]
