Duplicate of Chapter 6 Review

Contrary to Socialism, the Bible states man is selfish.

Marx stated that the nature of mankind is to _______________ one another.

Just laws, falls under Classic Liberal Capitalism?

Radical Capitalism is used in several countries.

In Communism, after eradicating capitalism, they would happily disband and turn over "FOP" to

There are two questions that need to be answered to determine if a nation is capitalistic or socialistic.

Marx said that a benefit of Socialism is...

Under Centralized Socialism, the state would ensure every worker gets a?

Factors of Production are Land, Labor, Capital and Entrepreneurship.

"Cradle to grave" for citizens and high taxes usually means a nation is considered a Welfare State.

Protecting personal infringements is part of what economy?

What should dictate your philosophy regarding your personal finances and the measure of your involvement in government

In a socialistic economy there is...

Under centralized socialism, society have to tolerate mediocre workmanship and shortages

Marx said, any arrangement of the tools of production short of total state ownership would be counterproductive.

Which is one of the five steps of Mercantilism?

Adam Smith wrote a book entitled?

One of those two questions is?

Adam Smith said government should provide national defence.

What is the most extreme form of Socialism?

Opponents to Centralized Socialism says leveling wages incentives workers.

Laissez Faire is French for "Let Alone"

One of the fundamental flaws of Communism, they believe man is basically good

Adam Smith was the Father of

When businesses become to expensive to maintain, socialistic goverments use Privatization.

Classic Liberal Capitalism has five major duties?

In Social Democracy when the state sells back those businesses to expensive to maintain and are unprofitable, is called?

Marx said that there has always been a class struggle.

Communism only exists in theory.

Capitalism has its faults. The Bible admonishes us that we need to pay fair________

One of the way capitalism is portrayed in the Bible is by ___________________ of property.

When goverment assumes ownership of the cornerstone businesses of the economy, it is called Nationalization.

One country considered a Welfare State is?

A monetary system would be part of Classic Liberal Capitalism.

What words did Adam Smith use for Capitalism?

An example of a Public Good that has been privatized is?

Nations using the Mercantilism economic system today are?

In true Communism, everyone would

Economically speaking, Communism is Socialism in its most extreme form.

There are three main forms of Capitalism.

Opponents to Centralized Socialism say it is...

What was Adam's Smith's theory called?

Communism says eventually the government would disband and turn over Factors of Production to everyone in common.

Marx stated that once Capitalism workers realize they are slaves, they will rebell.

Karl Marx wrote the Communist Manifesto.

Which is NOT one of the five steps of Mercantilism?

Social Democracy bridges a gap between Capitalism and Socialism.

One of the three laws that Adam Smith proposed was.

Libertarian Fairness was written by Karl Marx?

What law will determine if businesses are successful or not?