Both Pat and Terry believe that social and economic equality can be obtained only by establishing an economic system in which the government owns and controls all types of economic activity.
Which of the following statements proves that Pat is a communist and Terry is a socialist?
A) Unlike Terry, Pat believes that the government should decide the prices at which goods are sold.
B) Unlike Pat, Terry does not believe in the elimination of political opponents.
C) Unlike Terry, Pat believes that the means of production should be owned only by the public.
D) Unlike Pat, Terry believes that a violent revolution is necessary to seize control over resources.
Question 2
The root cause of gray market activity is ________.
A) a firm's inability to control production and distribution costs
B) a significant difference in price between national distributors
C) the dominance of substandard products in local markets
D) a large enough difference in price of the same product between two countries
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