IB. Political Economy

The communists believed that socialism could be achieved by democratic means, and turned their backs on violent revolution and dictatorship.

• True

• False

______ is found in states where political power is monopolized by a party according to religious principles.

• Tribal Totalitarianism

• Right-wing Totalitarianism

• Theocratic Totalitarianism

• Communist Totalitarianism 

A political system that stresses the primacy of

collective goals over individual goals is called

• Individualism

• Collectivism

• A Democracy

• A Market Economy

In a market economy, if demand for a product exceeds supply, prices will rise, signaling to producers to produce more.

• True

• False

Interdependent political, economic, and legal systems of a country make up its:

• administrative agenda.

• socioeconomic fabric.

• economic environment.

• political economy.

What kind of political system is Vietnam following?

• Communist totalitarianism

• Right-wing totalitarianism

• Individualism

• Representative democracy

In which type of economic system are all productive activities privately owned?

• A  Mixed Economy

• A Command Economy

• A Representative Economy

• A Market Economy

A form of government in which one person or political party exercises complete control over all spheres of human life and prohibits opposing political parties is

• A Democracy

• A Representative Democracy

• Totalitarianism

• Socialism

What kind of economic system is Vietnam following?

• A pure command economy

• A pure market economy

• A mixed economy

There is a strong relationship between economic freedom and economic growth.

• True

• False