Both Producers and Consumers Are Free to Make Their Own

question 65

Multiple Choice

Both producers and consumers are free to make their own economic decisions on many basic issues.What type of system does this statement best describe?

• A)mercantilism
• B)capitalism
• C)socialism
• D)communism

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Definitions:

Crystallized Intelligence

The ability to use skills, knowledge, and experience, which does not equate to memory but to utilizing learned knowledge and experience.

Cultural Intelligence

The ability to relate and work effectively across cultures.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

Fluid Intelligence

The aspect of intelligence involved in the ability to think abstractly, reason quickly, and solve problems in novel situations, independent of acquired knowledge.