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An Economic System Is the Set of Rules That Define

question 197

Multiple Choice

An economic system is the set of rules that define _______ and _______.


Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring from approximately age 7 to 11, where children gain the abilities for logical thought about concrete events, understand the law of conservation, and can classify and seriate.

Conservation

The protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them.

Abstractly

Related to thinking about concepts and ideas that are not physically present.

Theory of Mind

The cognitive ability to attribute mental states—beliefs, intents, desires, emotions—to oneself and others and to understand that others have beliefs and perspectives different from one's own.

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