2025/2026 Complete Questions and Correct
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Equilibrium Price - CORRECT ANSWER-price where amount demanded =
amount supplied
opportunity cost - CORRECT ANSWER-value of the best alternative not chosen
Law of Comparative Advantage - CORRECT ANSWER-It is more beneficial for
producers to make one thing and trade for other things than make everything
role of profits - CORRECT ANSWER-profits increase, number of producers
increase
,role of govt in a market - CORRECT ANSWER-encourage exchange and ordinary
workings
Sandel "Jumping the Queue" - CORRECT ANSWER-moral limits for market
reasoning
Brennan and Jaworski - CORRECT ANSWER-Disagree with Sandel
Sovereignty - CORRECT ANSWER-ultimate political power
legitimacy - CORRECT ANSWER-ruling by a sanction rather than stark necessity
Founding - CORRECT ANSWER-a conscious, deliberate act of creating a system
of government that benefits the people
Good Society - CORRECT ANSWER-reasonably stable and prosperous society
without an oppressive tyranny
Human Predicament Cycle - CORRECT ANSWER-tyranny to revolution to
anarchy to competing groups to tyranny
, Virtue, Freedom, and Welfare - CORRECT ANSWER-must balance these three
things in a government, different groups of thinkers have different ideas on how
to do it
"Our Divided Political Heart" - E.J Dionne - CORRECT ANSWER-Core Values of
American Society
Woodard - CORRECT ANSWER-Individual vs community
Justice Chapter 1 - CORRECT ANSWER-doing the right thing
John Calvin - CORRECT ANSWER-greatly influenced Puritan belief, taught that
salvation came through grace, predestination
Puritans - CORRECT ANSWER-wanted to reform Church of England, shaped
early America's character
The Christian Calling - CORRECT ANSWER-people should pursue a "calling"
where they must work hard, be wise