A System of Economic Organization in Which the Ownership and Control

question 70

Multiple Choice

A system of economic organization in which the ownership and control of productive capital assets rests with the state and resources are allocated through central planning and political decision making is called:

• A)​a market economy.
• B)​a command economy.
• C)​a corporate economy.
• D)​capitalism.

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Definitions:

Performing With Others

The act of engaging in tasks or activities in the presence of, or in collaboration with, other people.

Western Cultures

Societies that are often characterized by individualism, a strong emphasis on personal freedom, and democratic values.

East Asian

Referring to the geographical region or people from countries in the eastern part of Asia, such as China, Japan, and Korea.

Socially Loaf

A psychological phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.