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5 Written questions

5 Matching questions

  1. In modern times socialism replaces collectivism, what is socialism?
  2. What are some generalizations about economic progress?
  3. Why is GNI misleading?
  4. What are the different types of legal systems?
  5. What are three categories demonstrated
  1. a 1. common law
    2. civil law
    3. theocratic law
  2. b 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
  3. c 1. the increasing spread of democracy
    2. New world order and terrorism
    3.the spread of market based systems
  4. d a political philosophy advocating substantial public involvement, through government ownership, in the means of production and distribution; it would benefit society as a whole
  5. e does not consider cost of living

5 Multiple choice questions

  1. True
  2. a political system that emphasizes collective goals over individual goals (plato)
  3. the system of government in a nation
  4. True
  5. an emphasis on the importance of guaranteeing individual freedom and self-expression (Aristotle)

5 True/False questions

  1. True or False? Currently there are huge debates as to what economic system leads to development. Is it democracy or mixed economy?1. market economy
    2. command economy
    3. mixed economy


  2. 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


  3. What are some determinants of Economic Development?1. GDI(Gross National Income)
    2. Purchasing Power Parity (PPP)
    3.Human Development Index


  4. What are some other "factors" that tend to hinder economic development?1. Geography; land-lock areas and tropical regions grow more slowly
    2. Education is crucial for development


  5. What is private action?the theft piracy, blackmail, and the like by private individuals or groups


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