Which of the Following Applies to a Real-World Socialistic Economy

question 104

Multiple Choice

Which of the following applies to a real-world socialistic economy?

• A) Private ownership of all factors of production.
• B) Government ownership of all factors of production.
• C) Government ownership of most of the factors of production.
• D) Lack of central planning.

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Definitions:

Deposit Only

A deposit only account is a type of bank account where funds can be deposited but not directly withdrawn by the account holder, typically used for specific purposes like settling transactions.

Indorsed in Blank

Pertains to a signature on a financial instrument, such as a check, without specifying a payee, allowing any holder to cash or transfer it.

Negotiation

The process by which two or more parties attempt to settle their differences or reach an agreement through discussion and compromise.

Accidental

An unexpected and unintentional event that causes damage or injury.