The Key Difference Between Pure Capitalist Economies and Pure Socialist

question 15

Multiple Choice

The key difference between pure capitalist economies and pure socialist economies is that ______.

• A) politicians make economic decisions in capitalist economies, whereas the market controls economic decisions in socialist economies
• B) the government plays a regulatory role only in socialist economies
• C) the market controls economic decisions in capitalist economies, whereas politicians make economic decisions in socialist economies
• D) capitalist economies are seldom democracies, whereas socialist economies frequently are democracies
• E) people decide economic policies by voting in capitalist systems, but the people do not vote for economic policies in socialist systems

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Definitions:

UCC

The Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.

Negotiation

Negotiation is a process of discussion aimed at reaching an agreement where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution.

Holder

A person in possession of a document of title or an instrument payable or indorsed to him, his order, or to bearer.

Indorsement

The act of signing one's name on the back of a negotiable instrument, such as a check, thereby transferring rights or ownership.