Capitalism Is an Economic System in Which

question 131

Multiple Choice

Capitalism is an economic system in which

• A) the means of production are largely in private hands, and the main incentive for economic activity is the accumulation of profits.
• B) all property is communally owned and no social distinctions are made on the basis of people's ability to produce.
• C) the means of production and distribution are collectively owned.
• D) None of these answers is correct.

Evaluate the impact of civic engagement on democracy.

Understand the increasing importance of communication skills as one takes on more leadership responsibility.

Identify and apply strategies to make communication efforts effective.

Recognize all parties affected by an organization's actions and the importance of stakeholders.

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Definitions:

Infrequent Event

An event or transaction that occurs rarely and is not expected to happen regularly in the normal course of business.

Continuing Operations

The parts or actions of a company that are anticipated to persist over the coming years, not including any operations that have been ceased.

Extraordinary Item

A significant and unusual transaction distinct from the ordinary activities of the business, no longer separately classified in financial statements due to changes in accounting standards.

Disposition Gain

A financial gain realized from the sale of an asset, exceeding its book value.