Matching Fill in the Blanks with the Letter Corresponding to the the Names

question 11

Multiple Choice

Matching
Fill in the blanks with the letter corresponding to the names or terms listed below. Some names or terms may be used more than once and others not at all.
-Compared the operation of the free market to the workings of an "invisible hand":

• A)Aristotle
• B) William Graham Sumner
• C) Jeremy Bentham
• D) Niccolò Machiavelli
• E)Thomas Hobbes
• F) John Locke
• G)authoritarian
• H) libertarian
• I)John Stuart Mill
• J) T. H. Green
• K) Bernard Mandeville
• L) John Dewey
• M)Murray Rothbard
• N)communitarian
• O) Adam Smith
• P) Alexis de Tocqueville

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Definitions:

Autarky

is an economic system of self-sufficiency where an entity, typically a country, operates without importing or exporting goods.

Heckscher-Ohlin Model

An economic theory that proposes countries export what they can most efficiently and abundantly produce.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitors.

Ricardian Model

An economic theory that focuses on comparative advantage, explaining how countries can gain from trade by specializing in producing goods at a lower opportunity cost.