Political & Economic Philosophy

Which political philosophy argues that people have consented to surrender some of their freedoms in exchange for protection of their remaining rights?

• Social Contract Theory

• Libertarianism

• Marxism

• Capitalism

Which political philosophy upholds individual liberty as the highest political value?

• Social Contract Theory

• Libertarianism

• Marxism

• Capitalism

According to social contract theory, what are natural rights?

• Rights that are inherent to all individuals

• Rights that are granted by the government

• Rights that are earned through hard work

• Rights that are only applicable to certain individuals

What is one of the key elements of social contract theory?

• Limited government

• Government intervention in the economy

• Authoritarian rule

• Complete individual freedom

Which political philosophy believes that the government should only exist to protect individual rights and provide essential services?

• Social Contract Theory

• Libertarianism

• Marxism

• Capitalism

What is one of the key criticisms of social contract theory?

• It assumes people are rational

• It emphasizes the importance of community

• It supports government intervention in the economy

• It promotes individual freedom above all else

Which economic system is based on private ownership of capital and free markets?

• Socialism

• Keynesian economics

• Marxism

• Capitalism

What is the main focus of Keynesian economics?

• Aggregate demand

• Individual liberty

• Social ownership of the means of production

• Government intervention in the economy

According to Keynesian economics, what should the government do during bad economic times?

• Increase taxes

• Reduce government spending

• Increase government spending

• Reduce interest rates

Which political philosophy believes that the means of production should be owned and controlled by the working class?

• Social Contract Theory

• Libertarianism

• Marxism

• Capitalism