________ Is the Name of a Free-Market Economic System in Which

question 130

Multiple Choice

________ is the name of a free-market economic system in which most of the factors of production and distribution -- such as land, factories, railroads, and stores -- are owned by individuals.

• A) Socialism
• B) Capitalism
• C) Communism
• D) Marginalism

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Definitions:

Poor Countries

Nations characterized by low levels of economic development, limited resources, and often high rates of poverty and insufficient access to basic needs such as education and health care.

Social Change

The transformation over time of the institutions, culture, and norms within a society, often driven by collective behavior and social movements.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, often leading to increased interconnectedness and interdependence among nations.

Transnational Communities

Groups of people who maintain connections across national borders, often sharing a common culture, language, or origin, while living in multiple countries.