Which of the following is characterized by the private ownership of resources and the use of markets to coordinate and direct economic activity?

BlackTom题目解析

Question

Which of the following is characterized by the private ownership of resources and the use of markets to coordinate and direct economic activity?

BlackTom题目解析

BlackTom AI · Accepted Answer

Analyzing the concept in the question, which centers on private ownership of resources and the use of markets to coordinate economic activity, we evaluate each option carefully.
Option 1: 'A command system' — This describes an economy where decisions are predominantly made by a central authority or government, with resource allocation planned rather than driven by private ownership and market exchanges. This is not aligned with private property and market coordination.
Option 2: 'A market system' — This matches the description in the question: resources are privately owned, and markets (through prices, supply, and demand) coordinate and direct economic activity. This option directly fits the stated characteristics.
Option 3: 'A democratic system' — While a democratic system pertains to political governance rather than economic coordination, it does not specify how resources are owned or how economic decisions are coordinated through markets. It’s too vague about economic structure to satisfy the given criteria.
Option 4: 'An economic system' — This is a broad term that encompasses many possible arrangements (market, command, mixed, etc.). It does not inherently specify private ownership or market coordination, so it fails to uniquely describe the described setup.
In summary, the key distinguishing factor is the presence of private property rights coupled with market-based coordination, which points to a market system rather than the other options that imply different mechanisms for resource ownership and decision-making.

Which of the following is characterized by the private ownership of resources and the use of markets to coordinate and direct economic activity? BlackTom题目解析

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