PHI 445 Week 2 Quiz

PHI 445 Week 2 Quiz Question 1 Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. Question 2 Antitrust acts such as the Sherman Antitrust Act of 1980 were passed to protect against forming oligopolies. crony capitalism. foreign competition. reducing competition in the marketplace. Question 3 The philosopher Adam Smith suggested that the direction of international trade should be determined by government controls. moral forces. industry. free trade. Question 4 A few years ago, the Bolivian government leased water rights in some of the country’s poor, drought-stricken regions to private companies, including the U.S. engineering company Bechtel. Shortly after Bechtel took control in one area, water prices tripled, sparking protests. The privatization of water is an example of socialism. crony capitalism. free enterprise. capitalism. Question 5 The idea that consumers buy luxury items without considering the hard labor that went into making them is part of the viewpoint of