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FC8: Econ/Social Goals, Voluntary exchange, Private property rights
By Jeffrey See
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Last updated about 6 years ago
5 questions
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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.
Stability
Freedom
Full employment
Security
Efficiency
Sustainability
Growth
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