As the term "global" become "local", and as we see more opportunities to compete in the global market,
A) the long-term trend is for most nations to operate as mixed economies.
B) disagreements about the best economic system to embrace will cause many nations to close their doors to outside commerce.
C) the only industries that governments will want to own are the ones that are profitable.
D) the forecast is for socialist nations to trend toward communism (Cuba is the example) and for capitalist nations to trend toward socialism.

Question

Quizplus · Accepted Answer

As economies become more interconnected and global, it is likely that most nations will adopt mixed economies that incorporate elements of both capitalism and socialism. This allows for more flexibility in responding to economic challenges and a better balance between market forces and government intervention. Disagreements about the best system may still exist, but it is unlikely that they will result in widespread closure to outside commerce. The idea that all profitable industries will be owned by governments is not necessarily accurate, as there may be cases where private ownership is more efficient or beneficial. The idea that socialist nations will trend towards communism and capitalist nations will trend towards socialism is a generalization that may not hold true in all cases.

As the Term "Global" Become "Local", and as We See