__________ Is an Economic System Based on Private Property and Market

question 13

Multiple Choice

__________ is an economic system based on private property and market exchange.

• A) Capitalism
• B) Communism
• C) Entrepreneurship
• D) Socialism

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Definitions:

Problem-Strategy

An approach or plan of action designed to navigate challenges and find solutions.

Confirmation Bias

A tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence.

Framing Effect

A cognitive bias where people react differently to a particular choice or situation depending on how it is presented, or "framed."

Heuristics

Simplified strategies or mental shortcuts used to make decisions or solve problems quickly.