The United States tends to favor an economic system in which business enterprises and key industries are privately owned. This is known as which of the following?

Question

Quizplus · Accepted Answer

The economic system described in the question is capitalism, which allows for private ownership of businesses and industries. Communism promotes public ownership of industry and resources, while socialism supports a mix of public and private ownership. Populism refers to political ideology focused on the interests and concerns of ordinary people, while libertarianism advocates for individual liberties and limited government intervention in economic affairs.

The United States Tends to Favor an Economic System in Which