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Concept Introduction Day 5 Flashcards | StudBud

Explore/Concept Introduction Day 5

Concept Introduction Day 5

5 terms·StudBud Administration·62 plays

Price-Private Property

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Questions 5

Answers

1
If supply remains the same but demand rises, then
price will rise
your head will pop
price will remain the same
price will decrease
2
Regarding the "Invisible Hand" which is not necessary for everyone to benefit economically?
economic production
self-interest
altruistic feelings
property rights and government to settle disputes
3
Which of the following is NOT true about capitalism?
Social goods are created by the Invisible Hand of the market
Price is set by supply and demand
Private Property is protected and guaranteed
Government regulation of trade is necessary for fairness
4
Freedom of the press, religion, speech, and petition, along with self-government are aspects of
Classical Liberalism
Classical Conservatism
Socialism
Monarchy
5
Which of the following is NOT a characteristic of classical liberalism?
a powerful state to protect the rights of workers
a small government of low taxes and low regulation
the rule of law
a fair court system to resolve disputes