1. What are the two ways in which cooperation can take place? Give an example of each.            | Text |

2. Give examples of activities which benefit from directed cooperation.            | Text |

3. Why cannot directed cooperation be applied to the total activities of a community?            | Text |

4. The free market cannot be relied upon to bring about a just and prosperous economy

a. as industrial society advances.
b. amid the interference of partisan politics.
c. when the land rent goes to private interests.
d. unless the monetary system is reformed.
e. until human consciousness evolves.

5. Spontaneous cooperation is hindered by

a. indirect taxes.
b. natural disasters.
c. safety regulations.
d. All of the above.

6. What act of cooperation is seen only among human beings?            | Text |

7. Why is it so often assumed that competition is an evil?            | Text |

8. How is the market for unskilled labor an example of perfect competition?            | Supplement |

9. List some ways in which competition is commonly reduced in the goods market.

10. List some ways in which competition is commonly reduced in the labor market.

11. What is the difference between "desire" and "demand"?

12. The Law of Supply and Demand is based on

a. the obbservation that people seek to satisfy their desires with the least exertion.
b. the principle of conservation of energy.
c. the political economy of Adam Smith.
d. the capitalistic mode of production.

13. How do we know that production could take place without the aid of capital?            | Text |

14. What is the fallacy in the common assertion that "capital employs labor"?            | Text |

15. In what sense does it make sense to say that "capital employs labor"?

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