Chapter 1-3 | Vocab

Question 1

One’s personal interest or advantage; seeking to satisfy one’s own needs

Answer 1

Self Interest

Question 2

An ideology that places the needs and goals of a collective, or group, and is based on the belief in the interdependences of human society

Answer 2

Collectivism

Question 3

The ability of individuals to act freely as consumers and producers within an economic system

Answer 3

Economic Freedom

Question 4

The rights associated with personal liberty, such as freedom of religion and association, and the right to life, liberty, and the security of the person; a key value of individualism and an important feature of liberal democracies

Answer 4

Individual rights and freedoms

Question 5

An ideology based on the importance of individual liberty, and the values of individualism (including individual rights and freedoms, self interest, competition, economic freedom, rule of law and private property)

Answer 5

Liberalism

Question 6

Material possessions, including land that are owned by an individual or group. The rights to private property and it’s protection or central to values of liberalism

Answer 6

Private Property

Question 7

The idea that law itself, and not an individual has the greatest power, and that all individuals are equal before the law and subject to the same law

Answer 7

Rule of Law

Question 8

Faith observance to standards imposed on members of a group as a condition of membership in the group. These can relate to conduct, values or appearance

Answer 8

Adherence to Collective Norms

Question 9

The set of goals or ideals, that members of a group pursuit together, and that will benefit the group as a whole, rather than benefitting anyone individual in the group

Answer 9

Collective Interest

Question 10

The struggle among two or more people or groups for economic, social, or political advantage. Supporters of a free market economy see competition as an incentive for individuals and groups to work harder and more efficiently

Answer 10

Competition

Question 11

A groups responsibility for the actions of all its individual members, as well as the idea that individuals have a responsibility to the group that is greater than their individual responsibility

Answer 11

Collective Responsibility

Question 12

A system of thought, based on beliefs and values that include ideas about how the world works, how we should live together as a society and what society could become in the future

Answer 12

Ideology