Capitalism and socialism have not existed forever. Capitalism came into existence in the:
A) mid-1800s and socialism came into existence in the early 1900s.
B) early 1900s and socialism came into existence in the mid-1800s.
C) mid-1700s and socialism came into existence in the early 1900s.
D) early 1900s and socialism came into existence in the mid-1700s.
Correct Answer:
Verified
Q16: Market economies are based on:
A) private property
Q17: For a market to exist:
A) private property
Q18: Limited liability is a key advantage of
Q19: Private property rights are essential to market
Q20: Households supply factors of production to businesses
Q22: In contrast to the capitalism of the
Q23: Which of the following is not one
Q24: Most economies today are:
A) pure market economies.
B)
Q25: In a feudalist society, in comparison with
Q26: The Industrial Revolution was important to the
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