Laissez faire capitalism - Study guides, Class notes & Summaries

The sociocultural evolution approach developed by Gerhard Lenski categorizes preindustrial societies according to the way in which the ________ is organized. - economy Which type of society relies chiefly on mechanization for the production of its economic goods and services? - industrial society A society such as France or Italy that has an economy based on the production of goods in factories through mechanization would be an example of a(n) ________ society. - industrial What are the tw...

In economics, the pleasure, happiness, or satisfaction received from a product is called: o :# Utility Joe sold gold coins for $1000 that he bought a year ago for $1000. He says, "At least I didn't lose any money on my financial investment." His economist friend points out that in effect he did lose money, because he could have received a 3 percent return on the $1000 if he had bought a bank certificate of deposit instead of the coins. The economist's analysis in this case incorpor...

The social market model of national economy prioritizes which one of the following? correct answers societal goals The government of Nerumbia wants to open the country's economy to international business and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government? correct answers Investing in infrastructure and in the required supporting businesses Taxation as a percentage of GDP is gene...

PSC 101: Exam 1 Latest Update with Verified Solutions Government institutions and procedures through which a territory and its people are ruled Politics Conflict over the leadership, structure and policies of governments Political Efficacy The ability to influence government and politics Citizenship Informed and active membership in a political community Autocracy A form of government in which a single individual - a king, queen, or dictator - rules Oligarchy A form of gove...

The Big Four correct answers Standford, Hopkins, Crocker, Huntington: example of laissez faire capitalism; railroad monopoly 85%; built transcontinental line Laissez Faire Capitalism correct answers Hands off government, no regulation Subsidy correct answers Money given by government to organization; incentive Wright Act correct answers Formation of local water irrigation districts Earl Warren correct answers Cal Gov, 3 terms, Supreme Court Justice (by Eisenhower) Earl Warren pres...

Types of Resources correct answers - Labor - Capital (Equipment) - Natural Resources - Entrepreneurial Ability Positive Economics correct answers - Assertion of fact - Law - What is Normative Economics correct answers - Opinion - Belief - What should be Law of Comparative Advantage correct answers If economies specialize and produce where they have the lowest opportunity cost, both economies can be better off. The Three Big Questions correct answers 1.) What to produce? (How m...

Economics Multiple Choice Exam Review |UPDATED| 100% Correct # Latest We are forced to make choices because a. not everything is limited. b. shortages are a constant situation. c. we live in a democracy. d. all resources are limited. *Ans* all resources are limited The four factors of production are the resources of land, labor, capital, and a. services. b. entrepreneurship. c. technology. d. goods. *Ans* entrepreneurship A truck used by a plumber is a type of a. capital. b. lab...

APUSH Review Activity #6 College Board Concept Outline Period 6: 1865 to 1898 Directions: The Concept Outline below presents the required concepts and topics that students need to understand for the APUSH test. The statements in the outline focus on large-scale historical processes and major developments. Our course has focused on specific and significant historical evidence from the past that illustrate each of these developments and processes. Complete each table on the outline below by ...

ABCTE Elementary Education Exam 206 Questions with Verified Answers Magna Carta - CORRECT ANSWER (1215) a charter of liberties (freedoms) that King John "Lackland" of Englad was forced to sign; it made the king obey the same laws as the citizens of his kingdom 13th Ammendment - CORRECT ANSWER officially abolished slavery, prohibits involuntary servitude. Articles of Confederation - CORRECT ANSWER 1st Constitution of the U.S. (weaknesses-no executive, no judicial, no power to tax, n...

Political Science Exam 1 Prep with Questions and Answers What is Politics? ANSWER A process of determining how power and resources are distributed in a society without recourse to violence What does politics decide? ANSWER Who Gets Power Who Gets What, When and How Rules of the Game What is Government? ANSWER A system for organizing authority over a body of people. Made of rules and institutions. Rules of government ANSWER Rules specify how resources are distributed and what proced...