TEST BANK
LAW, BUSINESS, AND SOCIETY
2024 EVERGREEN RELEASE
CHAPTER NO. 01: CAPITALISM AND THE ROLE OF GOVERNMENT
TRUE/FALSE
1) In terms of United States public policy, the proper balance between open markets and
government intervention is one of the foremost public policy debates in American life.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-01 Describe capitalism and its relationship to individual rights.
Topic : Capitalism: Reduce Government?
Source : Chapter 01 Test Bank > TF Qu. 01-01 In terms of United States...
Answer: true
The proper balance between open markets and government intervention remains perhaps the
central public policy debate in American life.
2) According to philosopher and novelist Ayn Rand, big government suppresses individual
rights and personal freedom and improperly transfers wealth from the highly productive to
those who are less so.
⊚ true
⊚ false
Answer: true
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-01 Describe capitalism and its relationship to individual rights.
Topic : Capitalism: Reduce Government?
Source : Chapter 01 Test Bank > TF Qu. 01-02 According to philosopher and novelist...
,3) The term collectivism embraces communism, socialism and associated philosophies on the
left side of the political/economic spectrum.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-03 The term collectivism embraces communism,...
Answer: true
The term collectivism embraces communism, socialism and associated philosophies on the left
side of the political/economic spectrum.
4) Capitalism features economic cooperation and varying degrees of centralized control.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-04 Capitalism features economic cooperation and...
Answer: false
Collectivist systems feature economic cooperation and varying degrees of centralized control as
contrasted with capitalism's economic individualism and political freedom.
,5) Sweden practices communism.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-05 Sweden practices communism....
Answer: false
Although China, Cuba, North Korea, Vietnam, and Laos continue to practice communism, the
balance of the world has clearly rejected Marxist-Leninist totalitarianism.
6) Karl Marx felt that the pursuit of wealth and self-interest would lead to economic justice.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-06 Karl Marx felt that the...
Answer: false
Karl Marx is among history’s most influential thinkers. His central message concerns the severe
abuses that can accompany unrestrained capitalism. Marx was particularly concerned about the
growing imbalance between rich and poor. He also felt that the pursuit of wealth and self-interest
would erode society’s moral core.
, 7) Socialism embraces totalitarianism while calling for aggressive government intervention to
correct economic and social ills.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-04 Differentiate between communism and socialism as collectivist philosophies
Topic : Socialism
Source : Chapter 01 Test Bank > TF Qu. 01-07 Socialism embraces totalitarianism while calling...
Answer: false
Socialists provide one answer by rejecting communist totalitarianism and embracing democracy
while calling for aggressive government intervention to correct economic and social ills.
Historically, socialism has often been associated with democratic governments and peaceful
change, whereas communism has been characterized by totalitarianism and violent revolution.
8) Socialists fear the "irrationality" of a society based on competition and unrestrained pursuit
of industrial growth.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-04 Differentiate between communism and socialism as collectivist philosophies
Topic : Socialism
Source : Chapter 01 Test Bank > TF Qu. 01-08 Socialists fear the "irrationality" of...
Answer: true
Socialists fear the 'irrationality' of a society based on competition and unrestrained pursuit of
industrial growth. One of the elements of the socialist agenda is rationality.
LAW, BUSINESS, AND SOCIETY
2024 EVERGREEN RELEASE
CHAPTER NO. 01: CAPITALISM AND THE ROLE OF GOVERNMENT
TRUE/FALSE
1) In terms of United States public policy, the proper balance between open markets and
government intervention is one of the foremost public policy debates in American life.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-01 Describe capitalism and its relationship to individual rights.
Topic : Capitalism: Reduce Government?
Source : Chapter 01 Test Bank > TF Qu. 01-01 In terms of United States...
Answer: true
The proper balance between open markets and government intervention remains perhaps the
central public policy debate in American life.
2) According to philosopher and novelist Ayn Rand, big government suppresses individual
rights and personal freedom and improperly transfers wealth from the highly productive to
those who are less so.
⊚ true
⊚ false
Answer: true
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-01 Describe capitalism and its relationship to individual rights.
Topic : Capitalism: Reduce Government?
Source : Chapter 01 Test Bank > TF Qu. 01-02 According to philosopher and novelist...
,3) The term collectivism embraces communism, socialism and associated philosophies on the
left side of the political/economic spectrum.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-03 The term collectivism embraces communism,...
Answer: true
The term collectivism embraces communism, socialism and associated philosophies on the left
side of the political/economic spectrum.
4) Capitalism features economic cooperation and varying degrees of centralized control.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-04 Capitalism features economic cooperation and...
Answer: false
Collectivist systems feature economic cooperation and varying degrees of centralized control as
contrasted with capitalism's economic individualism and political freedom.
,5) Sweden practices communism.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-05 Sweden practices communism....
Answer: false
Although China, Cuba, North Korea, Vietnam, and Laos continue to practice communism, the
balance of the world has clearly rejected Marxist-Leninist totalitarianism.
6) Karl Marx felt that the pursuit of wealth and self-interest would lead to economic justice.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-03 Compare and contrast capitalism and collectivism.
Topic : Collectivism: Increase Government?
Source : Chapter 01 Test Bank > TF Qu. 01-06 Karl Marx felt that the...
Answer: false
Karl Marx is among history’s most influential thinkers. His central message concerns the severe
abuses that can accompany unrestrained capitalism. Marx was particularly concerned about the
growing imbalance between rich and poor. He also felt that the pursuit of wealth and self-interest
would erode society’s moral core.
, 7) Socialism embraces totalitarianism while calling for aggressive government intervention to
correct economic and social ills.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-04 Differentiate between communism and socialism as collectivist philosophies
Topic : Socialism
Source : Chapter 01 Test Bank > TF Qu. 01-07 Socialism embraces totalitarianism while calling...
Answer: false
Socialists provide one answer by rejecting communist totalitarianism and embracing democracy
while calling for aggressive government intervention to correct economic and social ills.
Historically, socialism has often been associated with democratic governments and peaceful
change, whereas communism has been characterized by totalitarianism and violent revolution.
8) Socialists fear the "irrationality" of a society based on competition and unrestrained pursuit
of industrial growth.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Difficulty : 2 Medium
Evergreen Release : Updated 2024
Gradable : automatic
Learning Objective : 01-04 Differentiate between communism and socialism as collectivist philosophies
Topic : Socialism
Source : Chapter 01 Test Bank > TF Qu. 01-08 Socialists fear the "irrationality" of...
Answer: true
Socialists fear the 'irrationality' of a society based on competition and unrestrained pursuit of
industrial growth. One of the elements of the socialist agenda is rationality.
