Which Statement Best Reflects the Main Purpose of an Economic

question 134

Multiple Choice

Which statement best reflects the main purpose of an economic system?  

• A) It must NOT allow some members of society to gain an unfair advantage when answering the three economic questions. 
• B) It must choose pure capitalism to adequately answer the three economic questions. 
• C) It is a set of social institutions and mechanisms organized to answer the three economic questions. 
• D) It can address problems of scarcity only by embracing the social institution of private property.

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Definitions:

System Justification

The psychological process by which existing social, economic, and political arrangements are legitimized and defended by people, even at the expense of personal and group interest.

Social Dominance Theory

A theory proposing that societies are structured in hierarchical group systems, with some groups dominating or oppressing others.

Individuate

The process of developing a distinct, integrated personality or self, often associated with adolescent development and psychological differentiation from others.

System Justification

A theory suggesting that people have a psychological need to defend and justify the status quo even at the expense of personal or group interest.