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CLEP Intro to Sociology

Category - Economic Inst

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What is an economy?

Regulation of goods and services
Goods and services
State ownership of production, and distribution
Pursuit of profit
System of production, distribution, and use of goods

Explanation

Answer: E - An economy is a system of production, distribution, and use of goods. The pursuit of profit is an attribute of a capitalist economy. In a socialist economy, the government owns the means of producing and distributing goods.

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CLEP Intro to Sociology

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