In Reality, All Economic Systems Are

question 109

Multiple Choice

In reality, all economic systems are

• A)mixed.
• B)command.
• C)capitalistic.
• D)democratic.
• E)socialistic.

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Definitions:

Interest

The cost of borrowing money, usually expressed as a percentage of the amount borrowed, over a specific period of time.

Government

The system or group of people governing an organized community, often a state, including institutions and individuals that hold the authority to make laws and regulations.

Per Stirpes

A legal term describing a method of distributing an estate whereby each branch of the deceased's family receives an equal share of the estate.

Estate

The total of all the assets, properties, and liabilities that a person leaves behind upon death.