Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Econ Chapter 6 Test

Enter the letter for the matching Answer
incorrect
1.
Trade trade associated with mercantilism
incorrect
2.
Welfare state
incorrect
3.
A classic work written by Adam Smith
incorrect
4.
Five-point program associated with Mercantilism:
incorrect
5.
Two questions answered by people to determine weather a nation is more capitalist or socialist:
incorrect
6.
What was the root problem associated with Mercantilism?
incorrect
7.
Favorable balance in trade:
incorrect
8.
Domestic manufacturing Associated with mercantilism.
incorrect
9.
What was the lengthy book written by Adam Smith
incorrect
10.
What are the major forms of capitalism and socialism
incorrect
11.
Colonization associated with Mercantilism:
incorrect
12.
Alliances associated with Mercantilism:
incorrect
13.
Classical liberal capitalism
incorrect
14.
Exploration associated with Mercantilism
A.
Discovere and swize new sources of gold and silver by sending explorers abroad to plunder less-developed civilizations and by supporting privateers to steal from neighboring nations.
B.
Encouraged the colonization of new teritories to acquire new supplies of the factors of production that would then be used to produce goods that other nations could not produce.
C.
Exploration; trade; Domestic manufacturing; Colonization; Alliances
D.
Arranged all foreign relationships in a way that minimized competition.
E.
A state in which taxes are very high, and funds are redistributed in such a way that the government claims to care for its citizens form the cradle to the grave.
F.
The form of capitalism that accepts the existence of government but allows it only minimal ownership of resources and decision making power to perform its responsibilities. (Form of capitalism in the writings of Adam Smith)
G.
The misconception that money is wealth.
H.
Who owns the nation's factors of production? Who answers the three economic questions?
I.
Mercantilists considered the manufacture of goods for the nation's people to be of secondary important, because selling goods to its own citizens did not increase a nation's stockpile of goods.
J.
"The Wealth of Nations"
K.
Communism and Radical capitalism
L.
Increase exportation of goods and services while decreasing importation of foreign goods; Strived for a favorable balance in trade.
M.
When a nation sells more goods than it buys.
N.
"An inquiry into the Nature and Causes of the Wealth of Nations"
Type the Answer that corresponds to the displayed Question.
incorrect
15.
laissez Fair
Type the Question that corresponds to the displayed Answer.
incorrect
16.
Private citizens own the vast majority of natural resources, financial capital, and labor, nut the government freely intervenes in the decision-making process to carry out its economic and social goals.
incorrect
17.
A socialism in its most extreme form.
incorrect
18.
Goods that benefit nearly the entire nation.
incorrect
19.
When a nation's government assumes the ownership of companies on a very large scale.
incorrect
20.
A traditional economic system bridging the gap between capitalism and socialism
incorrect
21.
Capitalism in its most extreme form and exists only as an economic theory. For such country to exist pricat citizens would own all the factors of production.
incorrect
22.
when a govnerment decides to sell its nationalized businesses back to private stockholders.
incorrect
23.
Maintains that the sensational government should be both the central owner and the decision maker in all economic affairs of the state.
incorrect
24.
Promoted the acquisition of precious metals, not as the means to an end but as the end itself.

edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: hihello2007
Popular Economics sets