What are the four basic ways that society can use to organize its economic affairs?
A)With consumer goods,capital goods,models and positive statements.
B)Using cooperation,command,custom or competition.
C)Using plentiful resources,opportunity costs,technology and specialization.
D)Using capitalism,communism,fantasy and technology.

Question

Quizplus · Accepted Answer

These are the four basic ways societies can organize their economic affairs:

1. Cooperation involves individuals or groups voluntarily working together without a central authority to achieve a common goal.

2. Command involves a central authority, usually the government, making economic decisions and directing individuals and businesses to follow them.

3. Custom involves traditional ways of economic behavior that have been passed down over generations, such as bartering or gift-giving.

4. Competition involves individuals or businesses competing in a market-based system to achieve economic success through the buying and selling of goods and services.

These four methods of organization can be combined and implemented to varying degrees in different societies, depending on their values, resources, and political systems. However, B is the best choice because it accurately identifies the four basic methods of organizing economic affairs.

What Are the Four Basic Ways That Society Can Use