A System of Economic Organization in Which the Ownership and Control

question 111

Multiple Choice

A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called

• A) socialism.
• B) a market economy.
• C) a corporate economy.
• D) capitalism.

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Definitions:

Pleasure Principle

A psychoanalytic concept suggesting that individuals seek pleasure and avoid pain to satisfy their biological and psychological needs.

Freud's Personality

A theory by Sigmund Freud that human personality is complex and has three distinct parts: the id, ego, and superego.

Id

The unconscious system of the personality, which contains the life and death instincts and operates on the pleasure principle; source of the libido.

Iceberg Metaphor

A psychological model used to describe the conscious mind as the tip of the iceberg visible above water, with the unconscious mind as the larger mass below water.