An open market economy is a unique feature of
welfarism
socialism
feudalism
capitalism
Correct answer is D
An open market economy, also known as a free enterprise system or capitalism, is an economic system wherein goods and services are exchanged freely on an open market.
Which of the following means of funding a business is very reliable and cheap?
Bank loans
Loans from friends
Plough back profits
Debentures
Correct answer is C
Plough back profits also known as retained earnings are profits earned by a business, and reinvested in the business. What this means is that the business doesn't spend its profits, but put it back in the business. It is considered one of the cheapest sources of business financing as it does not require interest to be paid.
A common feature of feudalism is
hierarchical land ownership between the lords and the serfs
private ownership of the means of production and distribution
separation of powers
fusion of powers
Correct answer is A
As with slaves, serfs could be bought, sold, or traded, abused with no rights over their own bodies, and could not leave the land they were bound to. Serfs who occupied a plot of land were required to work for the lord of the manor who owned that land. In return they were entitled to protection, justice etc
Which of the following is the lowest in the hierarchy of a feudal system?
Lords
Serfs
Knights
Nobles
Correct answer is B
Serfs is a member of the lowest feudal class, legally bound to a landed estate and required to perform labor for the lord of that estate in exchange for a personal allotment of land.
class division
the need of individual
human capital
division of labour
Correct answer is B
Communism is advocacy of a classless society in which private ownership has been abolished and the means of production and subsistence belong to the community