5 Written Questions
5 Matching Questions
- What are the three prevalent economic systems?
- True or False? Currently there are huge debates as to what economic system leads to development. Is it democracy or mixed economy?
- What does a political system shape in a country?
- What is political system?
- What are some other "factors" that tend to hinder economic development?
- a 1. Geography; land-lock areas and tropical regions grow more slowly
2. Education is crucial for development
- b 1. market economy
2. command economy
3. mixed economy
- c True but mature democracy truly secure property rights
- d it shapes the country's economic and legal systems
- e the system of government in a nation
5 Multiple Choice Questions
- the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats
- a version of collectivism advocating that socialism can achieved only through a totalitarian dictatorship
- the theft piracy, blackmail, and the like by private individuals or groups
- a system of rules that regulate behavior and the process by which the laws are enforced and through which the redress of grievance is obtained
5 True/False Questions
What is the Foreign Corrupt Practices Act? → Not many countries have ratified the convention only 70
what is individualism? → removal of government restrictions conceding the conduct of business such price control allowing for free market play, abolishing laws concerning private enterprises and their operations, and removing restrictions on FDI and international trade
What are some generalizations about economic progress? → 1. innovation and entrepreneurship are the engines of long term growth
2. Innovation and Entrepreneurship Require a Market Economy
3. Innovation and Entrepreneurship Require Strong Property Rights
What is the CIGS? → an attempt by the UN to asses the impact of a number of factors on the quality of human life in a country
What is the fault with CIGS? → Not many countries have ratified the convention only 70