What Are the Four Basic Ways That Society Can Use

question 29

Multiple Choice

What are the four basic ways that society can use to organize its economic affairs?

• A)With consumer goods,capital goods,models and positive statements.
• B)Using cooperation,command,custom or competition.
• C)Using plentiful resources,opportunity costs,technology and specialization.
• D)Using capitalism,communism,fantasy and technology.

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Definitions:

Genetic Qualities

Inherent attributes or characteristics passed from parents to offspring through genes.

Eugenics

A controversial and largely discredited science aimed at improving the genetic quality of the human population, often associated with discriminatory and unethical practices.

Distributive Justice

The ethical principle concerned with the fair and equitable allocation of goods, resources, and rights among members of a society.

Scarce Supply

A situation where the availability of a particular resource or commodity is limited or not sufficient to meet demand.