4. 32%
1. Americans work less than the French. 2. In 2008 the United States pushed the world into an economic crisis. 3. In a capitalist system the major proportion of production and distribution is in private hands. 4. Socialism is a system characterized by public ownership of property and a planned economy. 5. Yugoslavia once approximated worker control socialism. 6. An old stage of capitalist development was globalized capitalism. 7. The phrase “laissez faire” means “to let people do as they choose”. 8. Capital is unrelated to private property. 9. John Locke believed that people have a natural right to private property. 10. Smith gave careful arguments for the view that humans are acquisitive creatures. 11. Smith believed in the law of supply and demand. 12. There are no operational objections to capitalism.
1. The persons who provide the capital to a corporation are its
1. Executives
2. Beneficiaries
3. Stockholders
4. Directors 1. Modern corporations are, in