Which economic system is characterized by private ownership of the means of production, the pursuit of profit, and market competition?
A) Socialism
B) Capitalism
C) Democratic socialism
D) Industrialism
E) Postindustrialism
Correct Answer:
Verified
Q1: Which term refers to an economy in
Q3: What is underemployment?
A) Working at a job
Q4: Which form of capitalism only exists in
Q5: Which invention ushered in the industrial societies?
A)
Q6: As industrialization created a greater and greater
Q7: Once people began to breed animals and
Q8: Daniel Bell suggests that key elements of
Q9: After the invention of the plow, in
Q10: Which social institution is a system of
Q11: Which term refers to pure capitalism?
A) Democratic
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