In a Capitalist System, the Decisions and Actions of Millions

question 172

Multiple Choice

In a capitalist system, the decisions and actions of millions of consumers and firms are highly coordinated by

• A)the state governments.
• B)markets and prices.
• C)a central planning agency.
• D)an international organization.

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Definitions:

American National Railroad

A hypothetical or specific railroad company operating within the United States, involved in the transportation of goods and passengers across the nation. (Note: As of my last update, there's no specific entity known as "American National Railroad," this description assumes a generic interpretation.)

Mass Consumption

A large-scale demand for products or services by a wide range of consumers within an economy.

Transcontinental Railroad

A continuous rail line that spans a continent, typically referring to the major rail networks connecting the east and west coasts of the United States.

Protective Tariffs

These are taxes imposed on imported goods to protect domestic industries from foreign competition.