Economic Systems Differ According to What Two Main Characteristics

question 71

Multiple Choice

Economic systems differ according to what two main characteristics?

• A) Ownership of resources and methods of coordinating economic activity
• B) Quantity of output produced and who receives the output
• C) Who produces the output and what technology is used to produce it
• D) The system of government and the quantity of natural resources available

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Definitions:

Idealist

A person who holds the metaphysical view that mind and ideas are the ultimate reality.

Measurable

Capable of being measured or quantified.

Testable

A characteristic of a hypothesis or theory that it can be subjected to empirical experiments or observations to determine its validity or accuracy.

Religious People

Individuals who follow a specific religion or possess a strong belief in a supernatural power or powers that control human destiny.