Examlex
John enters into a contract to paint Chad's house.When Chad decides on a color,John will buy the paint and paint the house for the price of $2,500.Which of the following is true?
Socialist Economic System
A socio-economic structure where production and distribution of goods are controlled by the state, aiming for equal wealth distribution.
Democratic Government
A form of government in which power is vested in the hands of the people, either directly or through elected representatives.
Rule of Law
The principle that all individuals, institutions, and entities are accountable to laws that are publicly promulgated, equally enforced, and independently adjudicated.
Governmental Power
The extent of authority and control that a government holds to regulate, manage, and influence societal and economic activities.
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