Examlex

Solved

Basing Facts on Informal Observations Is an Example of Sociological

question 13

True/False

Basing facts on informal observations is an example of sociological knowledge.


Definitions:

Capitalism

An economic system where private individuals own capital goods, investments, and means of production, with the goal of making profits.

Market Economy

An economic system where supply and demand from consumers drive the production of goods and services, with minimal government intervention.

Supply And Demand

Basic economic concept that describes the balance between the availability of a product or service and the desire (demand) for it.

Free Enterprise System

An economic system where private businesses operate in competition, largely free of state control, with limited government intervention.

Related Questions