A System Which Is Characterized by the Private Ownership of Resources

question 139

Multiple Choice

A system which is characterized by the private ownership of resources and the use of prices to coordinate economic activity in unregulated markets is known as a _____

• A) traditional system.
• B) transitional system.
• C) pure command system.
• D) mixed system.
• E) pure capitalist system.

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Definitions:

U.S.

The United States of America, a federal republic consisting of 50 states and a federal district.

Unemployment

The situation in which individuals who are able and willing to work cannot find a job.

Time

A continuous measure in which events occur in a sequence from the past through the present to the future.

Countries

Countries are distinct territorial bodies or political entities recognized as independent nations.