Asked by Nicole Guerrero on May 14, 2024

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Pure capitalism and a pure command system represent:

A) two different ways of answering the basic economic questions.
B) two names describing the same method of answering the basic economic questions.
C) the only two ways of answering the basic economic questions.
D) the most efficient ways to answer the basic economic questions.
E) two market systems of resource distribution.

Pure Capitalism

An economic system characterized by private ownership of resources and businesses, with minimal government intervention in economic activities.

Pure Command System

An economic system characterized by the public ownership of resources and centralized planning.

Economic Questions

Economic questions are fundamental queries about how societies allocate scarce resources to produce goods and services for consumption, including decisions on what, how, and for whom to produce.

  • Discriminate between the features of different economic structures, such as pure command, mixed, and pure capitalism.
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TG
Terry GregoryMay 21, 2024
Final Answer :
A
Explanation :
Pure capitalism and pure command system are two opposite ways of answering the basic economic questions. Pure capitalism relies on market forces and private property rights to allocate resources, while a pure command system relies on a central planning authority to make decisions regarding resource allocation. Both systems have their advantages and disadvantages, and most economies in the world today operate somewhere in between these two extremes, using elements of both market and command systems.