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Which of the following best completes this illustration? Free Enterprise System Federalism Mercantile System Republicanism

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Which of the following best completes this illustration?
Free Enterprise System
Federalism
Mercantile System
Republicanism

Which of the following best completes this illustration? Free Enterprise System Federalism Mercantile System Republicanism

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NoelProfessional · Tutor for 6 years

Answer

Step 1: Identify the common theme among the four pillars mentioned in the image.The four pillars listed are Entrepreneurship, Competition, Private Property, and Profit Motive. These are all key components of a particular economic system.Step 2: Analyze the options provided to determine which one aligns with the theme of the four pillars.- Free Enterprise System: This is an economic system where few restrictions are placed on business activities and ownership. In this system, governments generally have minimal ownership of enterprises and the goods and services are largely determined by supply and demand. This system is characterized by private property, competition, the profit motive, and entrepreneurship.- Federalism: This is a political concept where a group of members are bound together by covenant with a governing representative head. It is more about the structure of government rather than an economic system.- Mercantile System: This is an economic theory and practice, dominant in Europe from the 16th to the 18th century, that promoted governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It is not characterized by the pillars mentioned.- Republicanism: This is a political ideology centered on citizenship in a state organized as a republic. It does not directly relate to the economic concepts represented by the pillars.Step 3: Choose the best option that completes the illustration based on the analysis.Given that the pillars represent key aspects of an economic system that values private ownership, competition, profit, and entrepreneurship, the best option to complete the illustration is:- Free Enterprise SystemThis is because the Free Enterprise System encompasses all the elements listed in the pillars and is defined by them.Final Answer: The Free Enterprise System best completes this illustration.
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