Cooper's native country of Evensplitia was much different from the United States. In addition to its higher tax rates, the government offered more extensive social programs that were designed to redistribute income and reduce inequality. Although small businesses were privately owned and operated in Evensplitia, many basic industries were owned and operated by the government. From this information, you would classify Evensplitia's economic system as ________.
A) capitalism.
B) socialism.
C) communism.
D) pluralism.

Question

Quizplus · Accepted Answer

The existence of relatively high tax rates and the emphasis on government programs to redistribute income are hallmarks of socialism. Under socialism, governments frequently own some, if not most, basic businesses. However, socialism, unlike communism, does allow at least some private ownership of businesses as well.

Cooper's Native Country of Evensplitia Was Much Different from the United