A Basic Tenet of Capitalism Is That

question 48

Multiple Choice

A basic tenet of capitalism is that

• A) property refers only to physical objects.
• B) ownership is a simple relationship between a person and the thing owned.
• C) capitalism requires private ownership of the major means of production.
• D) in the 21st century, capitalism no longer requires capital.

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Definitions:

Treaty of Guadalupe-Hidalgo

An agreement that ended the Mexican-American War in 1848, resulting in Mexico ceding large territories to the United States.

Continental U.S.

Refers to the contiguous 48 U.S. states and the District of Columbia, excluding Alaska, Hawaii, and U.S. territories.

Asian Markets

Financial markets located in Asia, involving the trading of securities, such as stocks and bonds, in countries like Japan, China, India, and South Korea.