1. ___ is characterized as more collective than individually oriented despite the income and wealth divide. a) capitalism b) socialism c) seculatarianism d) democratic
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1. ___ is characterized as more collective than individually oriented despite the income and wealth divide.
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- 1. It is one of the barriers to entry when the dominant firm (or firms) may take actions explicitly aimed at erecting entry barriers. a. capital requirements b. strategic barriers c. control of resources d. economies of scale 2. It is to provide certain public goods and services, undertake public investments, and regulate operations of private markets. a. distributive role b. role playing c. microeconomic role d. macroeconomics role 3. Government attempts to reduce income inequality; ensure minimum health, education, and living standards; and improve the welfare of the poor. a. distributive role b. macroeconomic role c. microeconomic role d. market structure 4. Does the firm can also earn zero profit or even loss where MC=MR? a. maybe b. yes c. sometimes d. noThe main differences between free markets( conscious) capitalism and crony capitalism is that: a) only crony capitalism appeals to self-interest and greed, while there is no greed in conscious capitalism b) crony capitalism enlist the power of the stat to achieve its goals, while the market is based on cooperation. c) only free markets capitalism uses incentives to fulfill its goals, while governmental institutions never use incentives to achieve goals. d) crony capitalism uses corporations, while, conscious capitalism uses small shops. e) all of the aboveDecide whether each of the following descriptions most closely corresponds to being part of a command system, a market system, or a laissez-faire system. a. A woman who wants to start a flower shop finds she cannot do so unless the central government has already decided to allow a flower shop in her area. b. Shops stock and sell the goods their customers want but the government levies a sales tax on each transaction in order to fund elementary schools, public libraries, and welfare programs for the poor. c. The only taxes levied by the government are to pay for national defense, law enforcement, and a legal system designed to enforce contracts between private citizens.
- Below are the two microeconomics statement condition. Identity the type of economic system explain why 1.Monopolies Which exploit the consumer can exist 2.The state regulates income inequalitiesAccording to Adam Smith, the “invisible hand”refers to which of the following?a. The “best interests of society” (publicinterest) will occur as an outcome of themarket process coordinating the selfinterestedinteractions of buyers and sellers(private interest).b. Government interference in markets toprevent greed.c. Bribes and graft that interfere with themarket process.d. The “best interest of society” (public interest)will occur as an outcome of careful guidanceby government authorities in allocatingscarce good and services according to privateinterest.1.Which of the following is the process of exchanging messages between people who have different cultural backgrounds? Select one: a. Ethnocentrism b. Xenophobia c. Cultural competency d. Diversity e. Intercultural communication 2.Which voice is being used when the writer includes personal pronouns? Select one: a. Self-congratulatory b. Indirect c. Active d. Diplomatic e. Passive
- Lenin's idea that "_the whole of society will have become one office and one factory_" is unrealistic because ... a. ... transaction costs begin to increase after a threschold firm size. b. ... transaction costs are smaller in firms than on the market. c. ... because specialization can increase a worker's output dramatically. d. ... because of the tragedy of the commons. e. ... because the Coase theorem only holds if there are no transaction costs. f. ... marginal transaction costs are concave in firm size. g. ... people are self-interested. h. ... the price mechanism is always superior to central coordination.1. Which of these communication models explains that the speakers should adjust their messages according to the audience and the occasion to achieve a particular purpose? a. Plato’s communication model b. Barlund’s communication model c. Lasswell's communication model d. Berlo's communication model 2. According to this, it sets the standards to be observed by a person or company that will create a good reputation or a positive image not only of an individual but also for the organization. a. code of ethics b. work ethics c. personal ethics d. professional ethics 3. Which of these statements is not true about communication? a. It is a mistake to believe that communication is a complex process. b. It involves encoding and decoding of messages c. It employs graphic aids, props and costumes, signs and symbols, etc. d. All of the above statements are true.How might conscious capitalism be applied in international markets? Give an example of a company that has exercised conscious capitalism and why it has worked. Why is it important? How would you leverage that strategy as part of the Christian worldview? Social responsibility and Christian worldview?
- Which of the following description best characterizes capitalsm? a)Society decides what,how and for whom to produce b)Ownership of the means of production resides with a small group of individiual. c)it is an economic system based on individuals goodwill toward othersmultiple choice a justification for government intervention in the economy arises from the fact that market systems usually produce _ outcomes, but the do not need necessarily produce _ outcomes. a) efficient, equitable b) Equitable, efficient c)efficient, profitable D) profitable, equitable63. The invisible hand refers to the: A. fact that the U.S. tax system redistributes income from rich to poor. B. notion that, under competition, decisions motivated by self-interest promote the social interest. C. tendency of monopolistic sellers to raise prices above competitive levels. D. fact that government controls the functioning of the market system. 64. The invisible hand concept suggests that: A. market failures imply the need for a national economic plan. B. big businesses are inherently more efficient than small businesses. C. the competitiveness of a capitalistic market economy invariably diminishes over time. D. assuming competition, private and public interests will coincide. 65. Two major virtues of the market system are that it: A. allocates resources efficiently and allows economic freedom. B. results in an equitable personal distribution of income and always maintains full employment. C. results in price level stability and a fair personal distribution of…
