Over the Twentieth Century,two Fundamentally Different Types of Economic Systems

question 20

Multiple Choice

Over the twentieth century,two fundamentally different types of economic systems have competed for people's allegiance.They are

• A) a capitalist market economy and a socialist command economy.
• B) a capitalist market economy and a communist command economy.
• C) a socialist management economy and a communist command economy.
• D) a socialist command economy and a socialist management economy.

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Definitions:

Farmland

Land used for the purpose of agricultural activities such as growing crops and rearing animals.

Highly Valued Resource

An asset or input considered to be of great importance or worth, often due to its scarcity or role in production.

Water

A crucial resource for life on Earth, involved in domestic, agricultural, and industrial uses.

Conflicts

Situations of disagreement or discord arising from differences in interests, values, or beliefs between parties.