Which Two Theorists Were Most Responsible for Refining the Theory

question 30

Multiple Choice

Which two theorists were most responsible for refining the theory of socialism?

• A) Émile Durkheim and Max Weber
• B) Karl Marx and Friedrich Engels
• C) Max Weber and Adolph Hitler
• D) James William Gibson and Adam Smith

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Definitions:

Moral Hazard

The tendency of individuals or entities to take riskier actions when they do not bear the full consequences of those actions, often due to having some form of insurance or protection.

Health Insurance

An insurance plan that covers the medical and surgical costs of the policyholder.

Consumers

Individuals or entities that use goods and services produced within an economy.

Government Tax Subsidy

Financial assistance from the government, often in the form of reduced taxes, to encourage or support particular economic activities.