Question
D 18) Match the economic philosophies in order of their relative positions on the illustration. square B. C. D. E. laissez-faire capitalism social-market capitalism socialism communism square square square square square
Answer
4.1
(262 Votes)
Aria
Elite · Tutor for 8 years
Answer
To match the economic philosophies with their relative positions on the illustration, we need to understand the spectrum from a completely free market to a completely planned economy. Here's the spectrum from most free-market to least:1. Laissez-faire capitalism2. Free-market capitalism3. Social-market capitalism4. Socialism5. CommunismNow, let's match these to the gradient from A to E:A (Blue) - This would represent the most free-market system, which is laissez-faire capitalism, where the government has little to no intervention in the economy.B - This would be close to laissez-faire but with some minimal government intervention, which is free-market capitalism.C - Moving further along the gradient, we would find social-market capitalism, which combines free-market principles with some government intervention to promote social welfare.D - As we approach the red end of the spectrum, we get closer to socialism, where the government has more control over the economy and seeks to redistribute wealth more evenly among the population.E (Red) - At the far end of the spectrum, we have communism, which is characterized by the common ownership of the means of production and the absence of social classes, money, and the state.Matching these philosophies to the gradient:A - Laissez-faire capitalismB - Free-market capitalismC - Social-market capitalismD - SocialismE - CommunismAnswer:A - Laissez-faire capitalismB - Free-market capitalismC - Social-market capitalismD - SocialismE - Communism