Deck 5: Traditional Theories of Property and Profit

Question 1

Products increase in value if they ________ .

A) become more common
B) are manufactured by Celgene
C) come from other continents
D) become unique in some respect

Answer 1

become unique in some respect

Question 2

Private property _________ .

A) is a component of modern society
B) belongs to everyone in common
C) first existed in England
D) requires manufacture

Answer 2

is a component of modern society

Question 3

Locke's philosophy holds that:

A) Slavery can sometimes be justified.
B) Every man has a property in his own person.
C) Scarcity has no effect on resources.
D) Utility is the highest value.

Answer 3

Every man has a property in his own person.

Question 4

Money came about as a_____ .

A) memorial to rulers
B) type of jewelry
C) means of exchange
D) useful commodity

Question 5

Division of labor helps _____ .

A) work to become more interesting
B) production increase
C) each person feel a sense of the final product
D) scarcity

Question 6

People naturally tend toward_____ .

A) exchanging things for other things they need
B) hording food
C) being asocial
D) communist societies

Question 7

Karl Marx is considered to be_____ .

A) a capitalist
B) a founding partner of the Marx brothers
C) Russian
D) The father of modern communism

Question 8

According to Marx, alienated labor does not alienate _____ .

A) nature from man
B) man from himself
C) men from women
D) the worker from the species

Question 9

Andrew Carnegie _____ .

A) believed in communism
B) was the first performer at Carnegie Hall
C) was an immigrant
D) believed in indiscriminate charity

Question 10

Andrew Carnegie was not _____ .

A) the scion of a wealthy family
B) a philanthropist
C) a steel magnate
D) a believer in competition

Question 11

New cancer drugs tend to sell for high prices.

Question 12

Thalidomide is a new drug.

Question 13

Blood plasma has no value.

Question 14

Private property can be justified.

Question 15

John Locke believed one's own efforts can "privatize" property.

Question 16

Barter preceded monetary commerce.

Question 17

Profit does not motivate production.

Question 18

Division of labor plays no role in modern production.

Question 19

Karl Marx believed that modern production causes the alienation of labor.

Question 20

Andrew Carnegie believed in capitalism.