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Capitalism: Quiz


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Question 1: Ayn Rand was a supporter of laissez-faire capitalism, and her best-selling novel ________ has been an influential publication on business.
Objectivism (Ayn Rand)Objectivist movementBibliography for Ayn Rand and ObjectivismAtlas Shrugged

Question 2: According to Weber, workers in pre-capitalist economic institutions understood work in terms of a personal relationship between master and journeyman in a ________, or between lord and peasant in a manor.
Trade unionGuildFree marketCapitalism

Question 3: Furthermore, without competition, a monopoly or ________ may develop.
European UnionCollusionCartelCompetition law

Question 4: This argument is intertwined with Marx's version of the ________ asserting that labor is the source of all value, and thus of profit.
Surplus valueLabor theory of valuePrices of productionLaw of value

Question 5: The Chicago School of economics is best known for its free market advocacy and ________ ideas.
Milton FriedmanJacob VinerGeorge StiglerMonetarism

Question 6: As ________ spread in the seventh century, mercantilism spread rapidly to Spain, Portugal, Northern Africa, and Asia.
Islamic schools and branchesMuslim historyIslamMosque

Question 7: [10] During this era, merchants, who had traded under the previous stage of mercantilism, invested capital in the East India Companies and other colonies, seeking a ________.
Fundamental analysisEfficient-market hypothesisRate of returnFinancial ratio

Question 8: Critics of market failure theory, like ________, Harold Demsetz, and James M. Buchanan argue that government programs and policies also fall short of absolute perfection.
Milton FriedmanJames HeckmanRonald CoaseGary Becker

Question 9: The relationship between ________ and capitalism is a contentious area in theory and popular political movements.
Gottfried LeibnizAuthoritarianismJohn LockeDemocracy

Question 10: At the period from the eighteenth century, the commercial stage of capitalism originated from the start of the British East India Company and the ________.
French East India CompanyDutch East India CompanyDutch West India CompanyDutch Empire

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