The New Culture Movement at Peking University

question 35

Multiple Choice

The New Culture Movement at Peking University

• A) attempted to "Modernize China in Four Years."
• B) advocated a return to the study of classical Confucian concepts.
• C) rejected all Western thought.
• D) advocated the study of science and democracy and "new" and largely Western ideas.
• E) sought a balance between existential philosophy and Confucian values.

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Definitions:

X-Inefficiency

The difference between efficient production levels and actual production due to mismanagement, lack of competitive pressure, or other organizational inefficiencies.

Pure Competition

A market structure characterized by an extremely large number of sellers and buyers where no single participant has the market power to influence product prices.

Oligopoly

A market structure characterized by a small number of firms controlling a large portion of the market share, often leading to limited competition.

Monopolistic Competition

A market structure characterized by many firms offering products that are similar but not identical, leading to competition based on quality, price, and marketing.