Which of the Following Is NOT True About Socialism

question 17

Multiple Choice

Which of the following is NOT true about socialism?

• A) Socialism involves an economic ideology in which the government or state plays a strong role in the economy and may own stakes in certain businesses.
• B) Countries with socialist economies aspire to be "classless."
• C) Socialistic economies tend to be somewhat more collectively than individualistically oriented.
• D) Many European countries have strong socialistic orientations.
• E) Socialistic countries put a high degree of importance upon worker and labor rights.

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Definitions:

Average Fixed Cost

The cost that remains constant per unit of output as total production increases or decreases.

Minimum Point

The lowest point on a curve, often related to economic graphs such as cost curves, indicating the least quantity of cost or effort.

Marginal Cost

The additional cost incurred from producing one more unit of a product or service.

Average Total Cost

The total cost of producing a given quantity of output divided by that quantity, representing the per unit cost of production.