Which Type of Economic System Places Natural Resources and the Means

question 38

Multiple Choice

Which type of economic system places natural resources and the means of producing goods and services under collective ownership?

• A)capitalism
• B)a mixed economy
• C)feudalism
• D)socialism

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Definitions:

Rural Areas

Regions characterized by low population density and vast open spaces, often with a predominant focus on agricultural activities or natural resources.

Social Insurance

A government-sponsored program that provides financial assistance to individuals in events of unemployment, disability, or retirement.

Public Assistance

Government-provided financial aid or services to individuals and families in need to ensure a basic standard of living.

Earned Right

A privilege or benefit that has been obtained or secured through work, achievement, or service.