Question 1

A basic tenet of capitalism is that

Accepted Answer

A) property refers only to physical objects. 
B) ownership is a simple relationship between a person and the thing owned. 
C) capitalism requires private ownership of the major means of production. 
D) in the 21st century, capitalism no longer requires capital. 
A) property refers only to physical objects. 
B) ownership is a simple relationship between a person and the thing owned. 
C) capitalism requires private ownership of the major means of production. 
D) in the 21st century, capitalism no longer requires capital.

Question 2

According to Alfie Kohn, competition promotes individual and group achievement better than cooperation.

Accepted Answer

A) True 
 B)False

Question 3

As a classical moral justification of capitalism, the natural right to property is a utilitarian justification.

Accepted Answer

A) True 
 B)False

Question 4

The sense of private property that is central to capitalism is the ownership of the means of production and distribution.

Accepted Answer

A) True 
 B)False

Question 5

Adam Smith claims that the proper role of governments is to restrict and regulate the self-interested behavior of business organizations for the common good.

Accepted Answer

A) True 
 B)False

Question 6

According to Adam Smith, the division of labor decreases economic activity.

Accepted Answer

A) True 
 B)False

Question 7

What are the four features of capitalism?

Accepted Answer

Capitalism is an economic system charact

Question 8

The U. S. trade deficit has shrunk significantly in recent decades.

Accepted Answer

A) True 
 B)False

Question 9

Capitalism is possible without private property.

Accepted Answer

A) True 
 B)False

Question 10

If it's true that individuals have a natural right to own property, then there can be no limits on this right.

Accepted Answer

A) True 
 B)False

Question 11

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

Accepted Answer

A) government subsidies and protective tariffs. 
B) monopolies control almost all areas of economic life. 
C) so many small companies go bankrupt. 
D) the outsourcing of jobs. 
A) government subsidies and protective tariffs. 
B) monopolies control almost all areas of economic life. 
C) so many small companies go bankrupt. 
D) the outsourcing of jobs.

Question 12

Marxism states

Accepted Answer

A) capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands. 
B) socialism will eventually be replaced by financial capitalism. 
C) the means of production should be placed under the control of the bourgeoisie. 
D) only workers who are poorly paid in a capitalist system are alienated. 
A) capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands. 
B) socialism will eventually be replaced by financial capitalism. 
C) the means of production should be placed under the control of the bourgeoisie. 
D) only workers who are poorly paid in a capitalist system are alienated.

Question 13

Capitalism operates on the debatable assumption that human beings find increased well-being through

Accepted Answer

A) production of equality. 
B) eliminating poverty. 
C) greater material consumption. 
D) a higher sense of purpose. 
A) production of equality. 
B) eliminating poverty. 
C) greater material consumption. 
D) a higher sense of purpose.

Question 14

A basic premise of Adam Smith's is

Accepted Answer

A) human beings try to avoid acquisitive behavior. 
B) when people are left to pursue their own economic interests, disaster looms. 
C) the division of labor, though good for the firm, reduces overall efficiency. 
D) we can secure what we need from others only by offering them something they need from us. 
A) human beings try to avoid acquisitive behavior. 
B) when people are left to pursue their own economic interests, disaster looms. 
C) the division of labor, though good for the firm, reduces overall efficiency. 
D) we can secure what we need from others only by offering them something they need from us.

Question 15

According to Marx, when workers are alienated they are not truly free.

Accepted Answer

A) True 
 B)False

Question 16

Evidence for the idea that American manufacturing is declining is

Accepted Answer

A) the fact that government now employs more people than manufacturing. 
B) a reluctance to outsource. 
C) fewer "hollow" corporations. 
D) a shrinking trade deficit. 
A) the fact that government now employs more people than manufacturing. 
B) a reluctance to outsource. 
C) fewer "hollow" corporations. 
D) a shrinking trade deficit.

Question 17

Karl Marx believed that

Accepted Answer

A) under capitalism workers are alienated in several ways. 
B) capitalism no longer exploits workers. 
C) industrialization does away with alienation. 
D) workers are alienated from their products, but not from themselves or other people. 
A) under capitalism workers are alienated in several ways. 
B) capitalism no longer exploits workers. 
C) industrialization does away with alienation. 
D) workers are alienated from their products, but not from themselves or other people.

Question 18

For the first time since the Industrial Revolution,  less than percent of the American workforce was employed by manufacturing.

Accepted Answer

A) 10 
B) 25 
C) 50 
D) 62 
A) 10 
B) 25 
C) 50 
D) 62

Question 19

More Americans are putting aside job success to

Accepted Answer

A) win the lottery. 
B) be with their families. 
C) get education. 
D) travel abroad. 
A) win the lottery. 
B) be with their families. 
C) get education. 
D) travel abroad.

Question 20

Outsourcing is a practice where companies buy parts or whole products from other producers, both at home and abroad.

Accepted Answer

A) True 
 B)False

A basic tenet of capitalism is that

According to Alfie Kohn, competition promotes individual and group achievement better than cooperation.

As a classical moral justification of capitalism, the natural right to property is a utilitarian justification.

The sense of private property that is central to capitalism is the ownership of the means of production and distribution.

Adam Smith claims that the proper role of governments is to restrict and regulate the self-interested behavior of business organizations for the common good.

According to Adam Smith, the division of labor decreases economic activity.

What are the four features of capitalism?

The U. S. trade deficit has shrunk significantly in recent decades.

Capitalism is possible without private property.

If it's true that individuals have a natural right to own property, then there can be no limits on this right.

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

Marxism states

Capitalism operates on the debatable assumption that human beings find increased well-being through

A basic premise of Adam Smith's is

According to Marx, when workers are alienated they are not truly free.

Evidence for the idea that American manufacturing is declining is

Karl Marx believed that

For the first time since the Industrial Revolution, less than percent of the American workforce was employed by manufacturing.

More Americans are putting aside job success to

Outsourcing is a practice where companies buy parts or whole products from other producers, both at home and abroad.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

Corporations

Consumers

The Environment

The Workplace Basic Issues

The Workplace Today Apos S Challenges

Moral Choices Facing Employees

Job Discrimination

Filters

Exam 4: The Nature of Capitalism

A basic tenet of capitalism is that

According to Alfie Kohn, competition promotes individual and group achievement better than cooperation.

As a classical moral justification of capitalism, the natural right to property is a utilitarian justification.

The sense of private property that is central to capitalism is the ownership of the means of production and distribution.

Adam Smith claims that the proper role of governments is to restrict and regulate the self-interested behavior of business organizations for the common good.

According to Adam Smith, the division of labor decreases economic activity.

What are the four features of capitalism?

The U. S. trade deficit has shrunk significantly in recent decades.

Capitalism is possible without private property.

If it's true that individuals have a natural right to own property, then there can be no limits on this right.

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

Marxism states

Capitalism operates on the debatable assumption that human beings find increased well-being through

A basic premise of Adam Smith's is

According to Marx, when workers are alienated they are not truly free.

Evidence for the idea that American manufacturing is declining is

Karl Marx believed that

For the first time since the Industrial Revolution, less than percent of the American workforce was employed by manufacturing.

More Americans are putting aside job success to

Outsourcing is a practice where companies buy parts or whole products from other producers, both at home and abroad.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

Corporations

Consumers

The Environment

The Workplace Basic Issues

The Workplace Today Apos S Challenges

Moral Choices Facing Employees

Job Discrimination

Filters