A Basic Tenet of Capitalism Is That

question 41

Multiple Choice

A basic tenet of capitalism is that

• A)property refers only to physical objects.
• B)ownership is a simple relationship between a person and the thing owned.
• C)capitalism requires private ownership of the major means of production.
• D)in the 21^st century, capitalism no longer requires capital.

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Definitions:

Demand Requirements

The quantity of products or services that the market requires at any given time.

Transportation Model

A mathematical model used to plan and optimize the transportation of goods from several sources to several destinations, minimizing the cost of transportation.

Linear Programming

An optimization method for achieving the best outcome in a mathematical model whose requirements are represented by linear relationships.

Holding Costs

Expenses associated with storing inventory over a certain period, including warehousing, insurance, depreciation, and opportunity costs, among others.