Which of the Following Statements Is True of the Economic

question 53

Multiple Choice

Which of the following statements is true of the economic system of North America?

• A)The free-market-based economy of this region allows for more freedom in decision-making processes of private firms
• B)The command economy of this region allows for greater flexibility with decisions and low barriers for other countries to establish business
• C)The free-market-based economy of this region results in lowering barriers when attempting to move into other countries
• D)The command economy of this region allows competition to strive while the government can extend assistance to individuals or companies

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Definitions:

Generalization

The process of applying findings from specific instances to broader contexts, or the tendency to apply broad concepts to specific instances.

Observational Learning

A learning process through watching the behaviors of others and the outcomes of those behaviors, not through direct experience.

Spark

Typically refers to a small but bright flash of fire or electricity, often used metaphorically to describe the initiation or inspiration of something.

Spontaneous Recovery

The reappearance of a previously extinguished response in the absence of further conditioning.