The Principle of Checks and Balances Is Based on the Notion

question 32

Multiple Choice

The principle of checks and balances is based on the notion that

• A)leaders are the trustees of the people.
• B)a weak government is always preferable to a strong government.
• C)all legislative and executive action should be controlled through judicial power.
• D)power must be used to offset power.
• E)legislators and executives cannot be trusted,but judges are trustworthy.

Define and distinguish between different economic terminologies and their applications.

Discuss the role of government intervention in correcting market failures.

Understand the difference between a centrally planned economy and a market economy.

Describe the principle of the "invisible hand" and its impact on market outcomes.

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Definitions:

IPv4

Internet Protocol version 4, a core protocol for the internet that provides an identification and location system for computers on networks and routes traffic across the internet.

E-Mail

Internet-based communication in which senders and recipients correspond.

MIME

Multipurpose Internet Mail Extensions, a standard for formatting non-text attachments used in email communication.

VoIP

Voice over Internet Protocol, a technology that allows for making voice calls using a broadband Internet connection instead of a regular phone line.