WorksheetsCharacter Values and Capitalism, sec. 3
Total questions: 9
Worksheet time: 5mins
Market competition is considered non-rivalrous because its intent is to secure the (a) .
competitor
prize
market
society
What does a quick scan of more- and less-capitalist economies suggest about market competition?
It is harmful
It is shared by open societies
It is unnecessary
It is a new concept.
According to the text, what is one of the purposes of capitalist institutions?
To promote individualism
To incorporate incentives for social cooperation
To eliminate competition
To focus on technological growth.
According to Acton, what is a consequence of the success of the winners in competition?
A) Failure of the losers
B) Increased cooperation
C) Mutual benefit
D) Economic growth
What does Acton suggest about capitalist institutions?
They hinder cooperative behavior.
They are inherently competitive.
They reinforce cooperative behavior.
They are morally questionable.
Match the following individuals with their contributions or ideas:
Emphasized other-regarding behavior in markets
other-regarding behavior in markets
Discussed voluntary associations in America
voluntary associations in America
Argued for self-interest in economic transactions
self-interest in economic transactions
Fill in the blank: Alexis de Tocqueville noted that Americans displayed a noticeable tendency to form and join (a) .
markets
associations
businesses
governments
What did Tocqueville observe about American society?
It was highly individualistic
It relied heavily on government aid
It had a strong tradition of voluntary associations
It was resistant to change.
Which of the following is an economic competition?
Hastings vs. Jones
Cincinnati Bengals vs. Cleveland Browns
Starbucks vs. Dunkin'
