Which of the Following Statements Is True About Socialist Economy

question 22

Multiple Choice

Which of the following statements is true about socialist economy?

• A) It is an economic system that is based on private ownership, economic freedom, and fair competition.
• B) Tax revenues fund services that citizens in free enterprise systems would have to pay for themselves.
• C) The dynamic interaction between buyers and sellers decides the prices in the market.
• D) Enterprises are run efficiently in the best interest of the government.

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Definitions:

Electrons

Negatively charged subatomic particles with a very small mass, found orbiting the nucleus of an atom.

Oxygen

A chemical element with symbol O, essential for respiration in many organisms and important in various industrial processes.

Isotopes

Forms of the same chemical element that have different numbers of neutrons, leading to variations in their total number of nucleons.

Neutrons

Subatomic particles found in the nucleus of an atom, carrying no electric charge and having a mass slightly larger than that of a proton.