QUESTION Which of the following is inconsistent with Marxist philosophy? A. Concern over public good rather than private profit B. Monopoly of state-owned companies in certain industries C. Opposing the ideologies of capitalist societies D. Substantial limits on individual political freedom E. Selling state-owned enterprises to private investors ANSWER E Karl Marx advocated state […]
QUESTION The sale of state-owned enterprises to independent, nonpublic investors is referred to as: A. privatization. B. nationalization. C. collectivism. D. communalism. E. public action. ANSWER A Privatization involves the sale of state-owned enterprises to private investors.
QUESTION Which of the following can be traced to the ancient Greek philosopher Aristotle? A. Collectivism B. Individualism C. Socialism D. Totalitarianism E. Communism ANSWER B Individualism can be traced to the ancient Greek philosopher Aristotle.
QUESTION The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits, and the Cedian ideology is “private profit over public good.” In this context, it can be said that Cedia most likely follows the philosophy of: A. totalitarianism. B. socialism. C. individualism. D. communism. E. Marxism. ANSWER […]
QUESTION Which of the following is most likely to be advocated by individualism? A. Communal property is more highly productive than private property. B. Public good should be preferred over private profit. C. State-owned companies should monopolize certain industries. D. The welfare of society is best served by some collective body such as government. E. […]
QUESTION In the context of individualism, which of the following is inconsistent with the works of the ancient Greek philosopher Aristotle? A. Guaranteeing individual freedom B. Government dictating what is in the best interest of society C. Guaranteeing self-expression D. Committing to private ownership E. Treating individual diversity as desirable ANSWER B A tenet […]
QUESTION Which of the following systems is a part of the political economy? A. Religious system B. Value system C. Demographic system D. Legal system E. Technological system ANSWER D Collectively we refer to the political, economic, and legal systems as constituting the political economy of a country. This emphasizes the fact that the […]
QUESTION Other things being equal, a nation with democratic political institutions is clearly more attractive as a place in which to do business than a nation that lacks democratic institutions. Indicate whether the statement is true or false. ANSWER TRUE Other things being equal, a nation with democratic political institutions, a market-based economic system, […]
QUESTION A common law system tends to be less adversarial than a civil law system. Indicate whether the statement is true or false. ANSWER FALSE A civil law system tends to be less adversarial than a common law system, since the judges rely upon detailed legal codes rather than interpreting tradition, precedent, and custom.
QUESTION The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on: A. democracy. B. collectivism. C. individualism. D. capitalism. E. privatization. ANSWER B Collectivism refers to a political system that stresses the primacy of collective goals over individual goals. When collectivism is […]
