The Ideology Behind a Socialist System Focuses on

question 65

Multiple Choice

The ideology behind a socialist system focuses on

• A) the collective good.
• B) individual achievement.
• C) wealth and prosperity.
• D) high taxes.

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Definitions:

Drawee

The individual or entity upon whom a check, draft, or bill of exchange is drawn and who is responsible for paying it.

First Bank

Historically, refers to the initial bank established in a region or country, or the earliest phase of banking service provision.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date.

Maturity Date

The specified date on which the principal amount of a financial instrument, such as a bond, loan or fixed deposit, is due to be repaid.