5 Written questions
5 Matching questions
- In modern times socialism replaces collectivism, what is socialism?
- What are some generalizations about economic progress?
- Why is GNI misleading?
- What are the different types of legal systems?
- What are three categories demonstrated
- a 1. common law
2. civil law
3. theocratic law
- 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
- c 1. the increasing spread of democracy
2. New world order and terrorism
3.the spread of market based systems
- 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
- e does not consider cost of living
5 Multiple choice questions
- a political system that emphasizes collective goals over individual goals (plato)
- the system of government in a nation
- an emphasis on the importance of guaranteeing individual freedom and self-expression (Aristotle)
5 True/False questions
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
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 are some determinants of Economic Development? → 1. GDI(Gross National Income)
2. Purchasing Power Parity (PPP)
3.Human Development Index
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
What is private action? → the theft piracy, blackmail, and the like by private individuals or groups