A form of capitalism that accepts the general principal of free-market economics but allows significant government involvement in the economy in order to protect domestic economic interests is known as
a. state led capitalism.
b. Asian Economic Model.
c. socialism.
d. mercantilism.
e. mixed economy.
Q. 2State capitalism is a system in which
a. the government has a substantial role in the regulation of the economy and the establishment of social welfare programs.
b. a small number of economically and politically powerful individuals primarily benefit.
c. there is minimal government involvement in regulation of the economy and little social welfare spending.
d. the government intervenes in the economy to guide economic activities in an effort to foster economic growth.
e. the government owns certain individual enterprises, which are typically in lucrative industries such as energy.
Q. 3A system in which the government intervenes in the economy to guide economic activities in an effort to foster economic growth is
a. oligarchic capitalism.
b. protectionism.
c. social democratic system.
d. state-led capitalism.
e. mixed economy.
Q. 4The system that involves a substantial role for government in the regulation of the economy and the establishment of social welfare programs is
a. protectionism.
b. free market capitalism.
c. the social democratic system.
d. oligarchic capitalism.
e. state-led capitalism.
Q. 5Scholars often use the experience of the Soviet Union in the twentieth century as an example of which problem of central planning
a. increasing class inequities.
b. the inability to direct economic resources to address pressing national needs.
c. production of consumer goods privileged at the expense of heavy industry protection.
d. lack of economic efficiency.
e. the ups and downs of the business cycle.
Q. 6Socialism is
a. a system in which the government does not engage in economic planning nor oversee an extensive welfare state, rather, it owns certain individual enterprises, which are typically in lucrative industries such as energy.
b. a system in which the government intervenes in the economy to guide economic activities in an effort to foster economic growth.
c. a set of government programs that provide significant welfare benefits and services.
d. the economic approach that emphasizes government ownership of the means of production and government control of economic decisions such as the supply and prices of particular products.
e. a system that allows significant government involvement in the economy in order to protect domestic economic interests.
Q. 7A free market capitalist system
a. involves a substantial role for government in the regulation of the economy and the establishment of social welfare programs.
b. involves minimal government involvement in regulation of the economy and little social welfare spending.
c. was a combination of state-led development measures and authoritarian political practices.
d. benefits a small number of economically and politically powerful individuals.
e. is a form of capitalism that accepts the general principle of free market economics, but allows significant government involvement in the economy in order to protect domestic economic interests.
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