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Lesson 5: The Institution of Private Property
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Question 1 of 5
Multiple Choice: Choose the best answer.
The capitalist system is based uponCorrectIncorrect
Question 2 of 5
Capitalism was originally a smear used by which socialist founder?CorrectIncorrect
Question 3 of 5
These were medieval associations of craftsmen designed to limit competition
in a certain trades.CorrectIncorrect
Question 4 of 5
The system in which individuals may choose to enter any line of work
that they so choose is calledCorrectIncorrect
Question 5 of 5
Matching Essential Terminology:
Place the appropriate term on the line beside its description.
- Free Enterprise
- Private Property
The whole web of exchanges that individuals make with their private property.
An association of craftsmen that regulates competition.
When some individuals have the legal right to the bodies and services of other individuals.
The institution assigning ownership of goods to specific individuals.