Chapter 5 Exam practice

Britain has a mixed economy. In Britain, health care is nationalized and free to all citizens. The National Health Service provides health care as a private company, but the British government oversees and regulates parts of the National Health Service. Which statement is true?

• The government is in total control of all industries.

• Private companies are not subject to government regulations.

• Both the government and private companies work together to produce goods and services.

• The government provides all social services and private companies produce all consumer goods.

One of the fundamental (important) parts of capitalism is that it brings together those willing to sell a product or service with those willing to buy and it is up to both parties to determine prices. This arrangement benefits both parties because the buyers and sellers are important to a health economy. Based on the text, what is an essential aim of capitalism?

• to create a wealthy worldwide marketplace.

• to unite buyers and sellers for the benefit of each.

• to distribute wealth among people more equally.

• to make scarce resources available to those living in poverty.

Economic Characteristics: The means of production are privately owned and operated for a private profit. The emphasis is on individual profit rather than on workers or society as a whole. Which economic system does the above summary describe?

• command economy

• mixed economy

• traditional economy

• market economy

Canada functions as a mixed economy. In general, businesses are privately owned and institutions, railways, ports, museums, and a few banking businesses are controlled by the government. Based on the text, which statement describes the business model of the Canadian economy?

• Businesses are strictly controlled by the government.

• Businesses are strictly controlled by private companies.

• Businesses are owned and operated privately and publicly.

• Businesses are owned and operated by independent outside groups.

Which of the following was NOT a reason population in major European cities like Paris and London greatly increased by the middle of the 19th century?

• Less need for farmers and farm workers due to industrialization.

• People looking for work.

• The agricultural and industrial revolutions

• Many people immigrated from the United States

European governments implemented censorship because they _____.

• hoped to encourage creativity amongst their citizens.

• wanted to encourage freedom of idea.

• were attempting to protect their power.

• wanted to boost the number of government jobs in the media

In this economic system people own all goods and a central authority manages production.

• Command economy

• Market economy

• Mixed economy

• Traditional economy

Which of the following scholars did NOT influence liberalism?

• Adam Smith

• Robert Owen

• John Locke

• Thomas Hobbes

Which of the following was NOT true of the growing middle class in Europe and the United States?

• They were known as aristocrats.

• They held a variety of jobs.

• They witnessed the harsh working conditions of poor laborers and wanted to help.

• They began to push for more say in government decisions.

This American idea that it was the God-given right of the United States to spread from the Atlantic ocean to the Pacific ocean caused Native Americans to be treated harshly and lose land.

• Imperial Destiny

• American Destiny

• Democratic Destiny

• Manifest Destiny