Sign up for FREE

FC8: Econ/Social Goals, Voluntary exchange, Private property rights

Last updated about 6 years ago

5 questions

1

1

1

1

1

Question 1

1.

Which economic/social goal stresses justice, impartiality, and fairness?

Price stability

Efficiency

Security

Equity

Question 2

2.

Social security, unemployment compensation and food stamps are examples of which economic/social goal?

Freedom

Equity

Growth

Security

Question 3

3.

Classify the following economic/social goals as strengths of either a market or command economy.

Growth
Stability
Full employment
Efficiency
Security
Freedom
Sustainability

Market economy
Command economy

Question 4

4.

When buyers and sellers freely engage in market transactions with the expectation that both parties will benefit, the result is called:

Consumer sovereignty

Competition

Private property rights

Voluntary exchange

Question 5

5.

Patents, copyrights, and trademarks are all part of which characteristic of capitalism?

Competition

Government regulation

Private property rights

Voluntary exchange