An Economic System in Which All or Most of the Means

question 71

Multiple Choice

An economic system in which all or most of the means of production are privately owned under competitive conditions is referred to as _________________.

• A) ​capitalism
• B) ​socialism
• C) ​fascism
• D) ​conservatism
• E) ​command economy

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Definitions:

Higher Levels of Thinking

Cognitive processes that involve analysis, synthesis, and evaluation, requiring more advanced intellectual skills and judgement.

Temporary Support

Assistance or help provided on a short-term basis to address an immediate need or crisis.

Verbal Self-warning

A cognitive strategy in which an individual internally vocalizes warnings or reminders to help avoid undesired behaviors or outcomes.

Lev Vygotsky

A prominent Russian psychologist known for his theory on social development and the concept of the Zone of Proximal Development, emphasizing the role of social interaction in cognitive development.