Which of the Following Is a Correct Characterization of Socialism

question 38

Multiple Choice

Which of the following is a correct characterization of socialism?

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

Structure

The manner in which components are arranged or organized to form a whole; can refer to physical buildings, biological organisms, or abstract systems.

Pattern Recognition

Pattern recognition is the ability to detect arrangements of characteristics or data that signify a familiar object or feature.

Left Hemisphere

The half of the brain typically responsible for analytical and linguistic tasks, including language comprehension, speech, and logic.

Mathematical Calculations

The process of performing mathematical operations to determine an answer or solve problems.