Which of the Following Is a Correct Characterization of Socialism

question 38

Multiple Choice

Which of the following is a correct characterization of socialism?

• A) Tradition answers the basic economic questions.
• B) Markets are used exclusively to answer the basic economic questions.
• C) Central planning is seldom used to answer the basic economic questions.
• D) Government ownership of many resources and centralized decision-making answers the basic economic questions.

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Definitions:

Symbolic Interactionism

A sociological perspective that focuses on the symbols and meanings people create and how these influence human interaction.

Ethnomethodology

A sociological perspective that focuses on the ways in which individuals understand, produce, and reproduce the social order in everyday interactions.

Exchange Theory

A social theory that analyzes the social behavior of individuals in the framework of an exchange process, where actions are based on the expected rewards or benefits.

Macro-Objective Level

Analysis or perspective focused on large-scale structures and processes, treating them as objective realities that influence social behaviors and institutions.