The Social Market Economy in Germany

question 21

Multiple Choice

The social market economy in Germany

• A)has long been a bone of contention internationally
• B)was put in place in the 1980s
• C)gives an important role to unions and religious organizations
• D)is based on state ownership of business

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Definitions:

Loan Agreement

A contract between a borrower and lender outlining the terms of a loan, including repayment schedule, interest rates, and the obligations of both parties.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money, or the percentage earned on a savings or investment account.

Donaghue V. Stevenson

A foundational case in modern law that established the principle of duty of care, marking the inception of modern negligence law.

Hazardous Products Act

Legislation that regulates the sale, advertisement, and importation of hazardous products to ensure public safety.