Socialism Is Correctly Described by Which of the Following Statements

question 28

Multiple Choice

Socialism is correctly described by which of the following statements?

• A) Central planning is used exclusively to answer the basic economic questions.
• B) Markets are used exclusively to answer the basic economic questions.
• C) Tradition is used exclusively 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:

Dependent Variable

The variable in an experiment that is observed and measured, expected to change as a result of alterations to the independent variable.

Matched Pairs Design

A research design in experimental psychology where participants are paired based on specific characteristics, with one member of each pair assigned to the experimental group and the other to the control group.

Order Effects

Changes in participants' responses due to the order in which experimental conditions are presented rather than the experimental conditions themselves.

Matching Pairs

A technique in research design where participants are paired based on certain characteristics, ensuring that each pair is similar except for the independent variable.