Efficiency in economic terminology means________________?

A. Using existing technology
B. Obtaining the highest output in the least amount of time
C. Ignoring the time factor
D. Making do with as few workers as possible

Specialized division of labor in industrial societies can make workers feel that they_______________?

A. Have lack of control
B. Have no sense of accomplishment
C. Are an anonymous group
D. All of the above

The market system consists of planning by__________________?

A. Inducement
B. Direction
C. Command
D. Tradition

In contemporary market systems competition____________________?

A. Is quite strong
B. Is diluted by private and state monopolies
C. Does not exist
D. Has been replaced by planning

The Protestant Ethic supported capitalism through the religious doctrine that praised_________________?

A. Hard work and thrift
B. Predestination
C. Turning the other cheek
D. Buying indulgences

With the shift from family capitalism to industrial capitalism the important unit became the_______________?

A. Corporation
B. Government
C. Commune
D. Union

One of the side effects of advertising is that it________________?

A. Supplies the real needs of people
B. Creates artificial demands
C. Helps the wealthy get richer
D. None of the above

Royal Dutch Shell Oil Co has branches in Holland Britain the United States and France This kind of corporation is called__________________?

A. Closed
B. Multinational
C. Restricted
D. Monopolistic

Unions face WHICH of the following problems ?

A. Antitrust laws
B. Increasing white-collar membership
C. Expansion of the manufacturing sector
D. Loss of membership

Land labor capital and entrepreneurship ?

A. Must be combined in the production of goods and service
B. Must be used separately to produce goods and service
C. Have no function in the production of goods and service
D. Create a balance between humans and their environment