Which Economic System Collectively Owns Both Resources and Manpower

question 21

Multiple Choice

Which economic system collectively owns both resources and manpower?

• A)State/welfare capitalism
• B)Socialism
• C)Communism
• D)Capitalism

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Definitions:

Foreign Exchange Market

A global decentralized or over-the-counter market for the trading of currencies, facilitating international trade and investment by enabling currency conversion.

Spot Exchange

Involves the immediate transaction or exchange of financial instruments or commodities for immediate delivery.

Currency Value

The worth of one country's currency in terms of another's, influencing international trade and economic balance.

Fiat Currencies

Money that a government has declared to be legal tender, but it is not backed by a physical commodity.