Identify and explain the four key principles of capitalism as outlined by Adam Smith. How well do real-world capitalist societies live up to these ideals? To what extent does this failure provide a justification for government intervention in the economy?
What will be an ideal response?
Answers will vary.
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__________ Largest religious body in the United States
What will be an ideal response?
In which system does a small group of people possess the power to influence government decision making the most?
A. free-market capitalist system B. mixed economic system C. socialist system D. democratic socialist system
Which is NOT a principle that seems to explain the variation in perceptions of ranking and grouping people into classes?
A. People in the middle or at the top are more likely to conceive of class differences in financial terms. B. People perceive a rank order. C. They agree more about the extremes than about the middle of the prestige range. D. People lump together into large groups those who are furthest from them.
White-collar crime refers to crime that is __________
A) committed by people from working-class backgrounds B) often termed “hustles” C) committed by middle- and upper-middle-class people in the course of their business and social activities D) committed by the Mafia