Under a Socialist System

question 104

Multiple Choice

Under a socialist system,

• A) most resources are owned by the state
• B) most resources are shared with the whole community
• C) market prices determine how resources are distributed
• D) conflicts are usually resolved by consensus
• E) most resources are privately owned

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Definitions:

Emergency Board

A temporary panel formed, often by a government, to intervene and resolve a deadlock in labor disputes and avoid disruptions such as strikes.

Secondary Boycott

A form of protest in which a union encourages both its members and the general public not to buy the products of a company that is involved in a dispute.

Lockout

A tactic used by employers where they prevent employees from working during a labor dispute, often to pressure the union to accept contract terms.

RICO Act

The Racketeer Influenced and Corrupt Organizations Act, a United States federal law designed to combat organized crime by allowing prosecution and civil penalties for racketeering activity.