The Economic System Characterized by Private Ownership of Resources and Market

question 18

Multiple Choice

The economic system characterized by private ownership of resources and market is:

• A) capitalism.
• B) communism.
• C) fascism.
• D) socialism.

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Definitions:

Acronym

An abbreviation formed from the initial letters of other words and pronounced as a word.

Horizontal Axis

A straight line that runs left and right across a graph or chart, typically used as a reference for measuring and orienting features.

Reference Axis

An axis in geometric dimensioning and tolerancing (GD&T) that serves as a baseline for the measurement of other features.

Point-To-Point Programming

A method used in computer numerical control (CNC) machining where commands guide a tool from one point to another, minimizing non-productive time.