Leveling Mechanisms Are

question 5

Multiple Choice

Leveling mechanisms are:

• A)more common in hunter-gatherer societies than in horticultural societies.
• B)associated with one family becoming wealthier than others.
• C)found in communities where property is not allowed to threaten egalitarian social order.
• D)more common in industrial societies than in agricultural societies.
• E)no longer in existence.

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Definitions:

Mixed Economy

An economic system that combines elements of capitalism and socialism, including both private and public ownership of resources and enterprises.

Laissez Faire

An ideology that supports a capitalist market economy free from regulatory oversight by the government.

Basic Questions

Basic Questions in economics typically refer to the fundamental queries about what to produce, how to produce, and for whom to produce, guiding allocation of resources.

Market Failure

A scenario where the distribution of goods and services through a free market fails to achieve efficiency, typically resulting in a decrease in overall social welfare.