Which Term Do We Use to Refer to an Economic

question 65

Multiple Choice

Which term do we use to refer to an economic system under which all property is communally owned,and no social distinctions are made on the basis of people's ability to produce?

• A)Communism
• B)Socialism
• C)Laissez-faire capitalism
• D)Contemporary capitalism

Understand the system development life cycle (SDLC) stages and their purposes.

Grasp the importance of feasibility studies in system development, including behavioral, economic, and technical aspects.

Comprehend the concept of system conversion strategies and their risks.

Understand different systems conversion strategies and their applications.

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Definitions:

Default Judgement

A judgment entered by a court for the plaintiff when the defendant fails to respond to a legal action.

Memorandum of Law

A detailed written document prepared by an attorney to present legal arguments and precedents in support of a case.

Motion to Dismiss

A legal request asking a court to dismiss a case mainly on the grounds that even if all facts claimed are true, there is no legal basis for a lawsuit.

Affidavit

A written statement confirmed by oath or affirmation, used as evidence in court.