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PHI 445 Week 2 Quiz - NEW 2016 1. The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ________ economy. 2. After Superstorm Sandy hit New Jersey, some businesses such as gasoline stations and car repair stores raised prices to bring in windfall profits off desperate customers. This is an example of price 3. When competitors agree to maintain prices at a certain level, this is called 4. Welfare capitalism and _________ are more modern versions of capitalism and socialism 5. One of the main ideas of The Communist Manifesto is that the proletariat 6. A few years ago, the Bolivian government leased water rights in some of the country’s poor, drought-stricken regions to private companies, including the U.S. engineering company Bechtel. Shortly after Bechtel took control in one area, water prices tripled, sparking protests. The privatization of water is an example of 7. Which of the following is not a business structure recognized by the U.S. Internal Revenue Service? 8. One of the main advantages of a corporation is 9. When a company pleads guilty to a crime and the government orders it to publish an apology, that is an example of 10. You are a shareholder in a corporation that filed bankruptcy. The liabilities will be more than the assets. What you will be required to pay will be based on 11. When two doctors decide to share office space for their medical practices, they have formed a(an) 12. Rehabilitation, retribution, and ________ are reasons that society has for punishing individuals for crimes.