Some Nations Have an Economic System Where the Government Owns

question 36

Multiple Choice

Some nations have an economic system where the government owns and operates the major industries. This system is called

• A) capitalism.
• B) socialism.
• C) communism.
• D) fascism.

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Definitions:

Injection

In economics, a method of adding funds or capital to an economy by government spending or exports; in medicine, it's the act of administering a liquid substance directly into the body through a needle and syringe.

Circular Flow

an economic model that depicts how money moves through the economy, from households to businesses and back, via the markets for goods and services and for factors of production.

Value Added

The enhancement a company gives its product or service before offering the product to customers, essentially the difference between the cost of inputs and the value or price of outputs.

Raw Materials

The basic materials from which products are made, typically extracted natural resources or agricultural products.