Match each word with its correct definition.

1. Adam Smith
2. Karl Marx
3. Proverbs 31
4. picket
5. serf
6. closed shop
7. gold coinage
8. rebate
9. capital good
10. competition

a. South African diamond mining companies use some of the diamonds they have mined in their drill bits.
b. When businesses battle for the consumer's purchasing choices.
c. Where you get money sent back to you after you send in a requirement, like the UPC symbol.
d. Monetary units that were a strong universal standard in the Middle Ages.
e. A member of the feudal class of people in Europe who were owned by the heads of the estates where they worked.
f. To encircle a plant or block a plant entrance with unionists carrying signs or placards expressing their concerns.
g. A workplace where only union members may be hired.
h. The Scottish economist who wrote of the need for basic economic freedoms.
i. Honors the mother who shops carefully.
j. Wrote the "Communist Manifesto."



Answer :

Final answer:

This answer explains key terms related to economics and historical figures in the field such as Adam Smith and Karl Marx.


Explanation:

Adam Smith: the Scottish economist known for advocating basic economic freedoms and the importance of labor in production.

Karl Marx: the philosopher who wrote the "Communist Manifesto" and emphasized class struggle in society.

Proverbs 31: a biblical chapter honoring the virtues of a diligent and wise woman.

picket: to protest by encircling or blocking a workplace.

serf: a feudal class member in Europe owned by the estate owner.

closed shop: a workplace where only union members can be hired.

gold coinage: monetary units used as a standard in the Middle Ages.

rebate: receiving money back after fulfilling certain conditions like UPC submission.

capital good: a productive asset used in producing other goods.

competition: businesses battling for consumer purchasing choices.


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