Author Question: 4. According to the text, the three major economic systems present in modern societies are a. ... (Read 143 times)

FButt · **on:** Jul 2, 2018

4. According to the text, the three major economic systems present in modern societies are

a. capitalism, socialism, and mixed economies.
b. capitalism, communism, and mixed economies.
c. capitalism, Marxism, and mixed economies.
d. socialism, communism, and mixed economies.

Question 2

Which of the following best defines economy?

a. the social institution through which power is acquired and exercised by certain individuals or groups
b. the social institution that ensures that a society will be maintained through its production, distribution, and consumption of goods and services
c. the independent workings and interests of political and economic systems
d. the collection of people and organizations who serve as a watchdog to the American government

macybarnes · **Reply #1 on:** Jul 2, 2018

Answer to Question 1

Answer: a. capitalism, socialism, and mixed economies.

Answer to Question 2

Answer: c. the independent workings and interests of political and economic systems