The Term Democracy Meant Something Different in the Nineteenth Century

question 52

Multiple Choice

The term democracy meant something different in the nineteenth century than it does today.Which ideologies best match the two different understandings of the term?

• A) libertarianism and socialism
• B) conservatism and reform liberalism
• C) conservatism and classical liberalism
• D) classical liberalism and reform liberalism

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Definitions:

Import or Export

Imports are goods and services brought into a country from abroad for sale, while exports are goods and services produced domestically and sold to foreign countries.

World Price

A product or service's worldwide market value, affected by the international balance of supply and demand.

Importer or Exporter

An entity that buys goods and services from a foreign country (importer) or sells them to a foreign country (exporter).

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, underpinning the basis for trade.