The General Set of Rights to Own Private Property and Exchange

question 198

Multiple Choice

The general set of rights to own private property and exchange goods, services, and financial assets with minimal government interference is defined as

• A) capitalism.
• B) market socialism.
• C) economic freedom.
• D) economic privilege.

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Definitions:

Cultural Relativist

A view that moral or ethical systems, which vary from culture to culture, are all equally valid and no one system is really "better" than any other.

Ethical Relativist

Someone who believes that morality is relative to the norms of one's culture, meaning that what is considered moral in one society may be considered immoral in another.

Practices

Customary ways of operation or behavior in a particular area or field, often referred to as the actual application or use of an idea, belief, or method.

Cultures

The social behavior, norms, knowledge, beliefs, arts, laws, customs, capabilities, and habits of the individuals in these groups.