Exam 14: The Economy

How does democratic socialism differ from pure socialism?

Describe the changes that have occurred in the two major economic systems.

What condition had to exist before members of a society could create a permanent or Semi-permanent place to live?

In which of the following nations do workers have the most leisure time, averaging a 35-hour work week?

In theory, industries can manufacture and sell poisons, bombs, and weapons of any type as long as there are consumers to buy them and they operate within a government that permits ________.

Which of the following social or economic arrangements is described as being the "capitalist's dream"?

What is meant by the term "medium of exchange"? Describe how the medium of exchange has evolved.

Which nations serve as the best examples of democratic socialism?

In theory, socialists believe that profit is immoral and that capitalists create social inequality and exploit poorly paid workers.

Although socialism is ideologically in conflict with capitalism, a number of programs operating in the United States could be classified as socialistic.

In the United States, government interventions that restrict a person's ability to immediately produce and sell a product that he or she has discovered or invented are referred to as ________.

At the annual shareholders' meeting, the CEO proposed that the corporation go public and create an additional million shares of stock to raise capital. The shareholders rejected the idea because they did not want to see the value of their own stock drop. This scenario is an example of ________.

Provide at least two examples of ways in which the United States has adopted socialist practices through convergence theory.

Jose is a Mexican worker referred to as los sin documentos. What does this imply about Jose's work status?

What is e-cash?

If a corporation is sued for selling unsafe products and loses the suit and is held liable, who or what is responsible for the debt?

The groups that head the country's top corporations and have access to high-level politicians, use this power to promote legislation favorable to ________.

At the marketplace, Blossom brings pastries that she bakes to exchange for clothing. David brings chickens to trade for Blossom's pastries. What medium of exchange does this illustrate?

What term did Durkheim use to refer to the global division of labor that has led to specific tasks performed by members of society and a lessening of social cohesion?

The means by which people value and exchange goods and services is referred to as ________.