Which of the following statements is true?
A) The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making.
B) In capitalism income is distributed on the basis of need.
C) Adam Smith was the father of socialism.
D) Most real-world economies are mixed economic systems.
E) The "invisible hand" refers to government economic control.

Question

Quizplus · Accepted Answer

Most countries have mixed economic systems, meaning that they combine aspects of capitalism and socialism, with some government intervention to regulate and support the economy. Choices A, B, C, and E are all false.

Which of the Following Statements Is True