QUESTION In the country of Normian Republic, an individual’s right to own land is restricted to a large extent on the basis that it runs counter to “the common good.” In this context, which of the following is most likely to be the political system adopted by Normian Republic? A. Individualism B. Democracy C. Collectivism […]
QUESTION Judges under a civil law system have less flexibility than those under a common law system. Indicate whether the statement is true or false. ANSWER TRUE Judges under a civil law system have less flexibility than those under a common law system
QUESTION Which of the following was advocated by Karl Marx? A. Capitalist society B. Individualism C. Selling state-owned enterprises to private investors D. Socialism E. Private profit over public good ANSWER D Modern socialists trace their intellectual roots to Karl Marx (1818-1883), although socialist thought clearly predates Marx (elements of it can be traced […]
QUESTION Islamic law is primarily a moral rather than a commercial law and is intended to govern all aspects of life. Indicate whether the statement is true or false. ANSWER TRUE Islamic law is primarily a moral rather than a commercial law and is intended to govern all aspects of life.
QUESTION A person who believes in public ownership of the means of production for the common good of society is a(n): A. socialist. B. capitalist. C. individualist. D. monarchist. E. feudalist. ANSWER A A socialist is someone who believes in public ownership of the means of production for the common good of society.
QUESTION Command economies provide a more favorable environment for innovation and entrepreneurs than market economies. Indicate whether the statement is true or false. ANSWER FALSE In a command economy, state-owned enterprises have little incentive to control costs and be efficient, because they cannot go out of business. Also, the abolition of private ownership means […]
QUESTION Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses). Indicate whether the statement is true or false. ANSWER TRUE Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).
QUESTION One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest. Indicate whether the statement is true or false. ANSWER FALSE In collectivist societies, an individual’s right to do something may be restricted on the grounds that it runs counter to […]
QUESTION By the mid-1990s, communism was rising worldwide. Indicate whether the statement is true or false. ANSWER FALSE By the mid-1990s, communism was in retreat worldwide.
QUESTION In practical terms, individualism translates into an advocacy for democratic ideals and free market economics. Indicate whether the statement is true or false. ANSWER TRUE In practical terms, individualism translates into an advocacy for democratic ideals and free market economics.
