Which of the Following Statements Is True

question 24

Multiple Choice

Which of the following statements is true ?

• A) The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making.
• B) In capitalism income is distributed on the basis of need.
• C) Adam Smith was the father of socialism.
• D) Most real-world economies are mixed economic systems.

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Definitions:

Golf Ball

A small, dimpled ball designed specifically for the game of golf, optimized for distance, flight stability, and control.

Geographical Markets

Areas or locations where products or services are marketed, each with its own set of customers with distinct needs and characteristics.

Pharmaceutical Companies

Businesses licensed to research, develop, market, and distribute drugs in the healthcare sector, often focusing on novel or generic drug manufacturing.

BRIC Countries

An acronym for Brazil, Russia, India, and China, referring to rapidly developing countries considered as emerging markets or economic giants.