An Economic System in Which, Theoretically, the Government Manages the Economy

question 51

Multiple Choice

An economic system in which, theoretically, the government manages the economy in the interests of the workers is referred to as ______.

• A)communism
• B)federalism
• C)socialism
• D)capitalism

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Definitions:

Formalism

A specific method, convention, or approach characterized by its emphasis on form and structure in the arrangement of elements.

Moral Development

The process by which individuals develop their understanding of what is right and wrong, often influenced by societal norms and personal experiences.

Development Stage

A phase within a process or lifespan characterized by specific growth, progress, or changes.

Unethical

Behaviors or decisions that are morally wrong according to a widely accepted code of conduct, often violating social, professional, or legal standards.