Managerial Economics: A Problem Solving Approach
5th Edition
ISBN: 9781337106665
Author: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher: Cengage Learning
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Question
Chapter 2, Problem 2MC
To determine
The advantages of capitalism.
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Students have asked these similar questions
Which of the following is
FALSE about the theory
of modern capitalism?
a. Socialismn will still
occur even though the
capitalist societies
can provide higher
levels of economic
well-being for large
sections of their
populations, including
their working classes.
b. As false needs can be
created and met,
people can be
unconsciously
reconciled to
capitalism,
guaranteeing its
stability and
continuity.
Capitalism was originally a smear used by which socialist founder? A. Adam SmithB. Jean-Jacques RousseauC. Vladimir LeninD. Karl MarxE. Paul Krugman
Choose the one that is correct about capitalist economic system.
a.
Private ownership of factors of production
b.
Absence of technology
c.
Maximization of social welfare
d.
Unlimited government control
Chapter 2 Solutions
Managerial Economics: A Problem Solving Approach
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Similar questions
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- You know that the rules and regulations in capitalist economies are less when compared with command economies. This basically explains _______. a. Freedom in the economy b. Nature of the economic system c. All of the options d. Controls in the economyarrow_forwardQUESTION 1 Choose the most correct answer to the following questions/phrases. Only the question number and the letter of your answer. 1.1 1.1.1 Communism and Socialism are both examples of a economy. Planned Market C Mixed D Оpen 1.1.2 In a economy various aspects of production are determined by supp demand. A Planned Market C Mixed D Open 1.1.3 An unfair and unethical phenomenon that does not occur in planned econo Social grants Over-development Monopolies Unemployment be A B D 1.1.4 In a economy consumer demand is predictable and controllable.arrow_forwardWhich of the following is an advantage of capitalist economy? a. Maximization of welfare b. Absence of monopoly c. Limited government control d. Equal opportunityarrow_forward
- Which one of the following occurs in capitalistic economy? a. Means of production are owned by the government b. The element of a market and the command economy c. It functions with a focus on welfare d. Completely free market operationarrow_forwardRonald Reagan was elected as governor because of his views on a. tax relief. b. anti-intellectualism concerning college activism. c. law and order. d. All of the above.arrow_forwardAn economic system: a. must choose pure capitalism to adequately answer the three economic questions. b. must answer the three economic questions to the satisfaction of everyone in society. c. is a set of social institutions and mechanisms organized to answer society's three primary economic questions. d. can address problems of scarcity only by embracing the social institution of private property. e. must not allow some members of society to gain an unfair advantage when answering the three economic questions.arrow_forward
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