Multiple Choice
A major distinguishing feature between capitalist and socialist (or command) economies is that _____
A) the average citizen is wealthy in capitalist economies, whereas the average citizen is poor in socialist economies.
B) decision making is decentralized in socialist economies, while decision making is centralized in capitalist economies.
C) resources are privately owned in capitalist economies, whereas private property rights are enforced in command economies.
D) resources are publicly owned in capitalist economies, whereas resources are privately owned in command economies.
E) decision making is decentralized under capitalism, while decision making is centralized in command economies.
Correct Answer:
Verified
Correct Answer:
Verified
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