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Questions and Answers
Which economic system is characterized by private ownership of the means of production and the pursuit of profit?
Which economic system is characterized by private ownership of the means of production and the pursuit of profit?
- Standard of Living
- Socialism
- Poverty cycle
- Capitalism (correct)
What term refers to the total value of all goods and services produced in a country in a specific time period?
What term refers to the total value of all goods and services produced in a country in a specific time period?
- Global economy
- Quality of Life
- Gross Domestic Product (GDP) (correct)
- Diversified economy
Which organization focuses on building and repairing homes for people in need, aiming to eliminate poverty housing?
Which organization focuses on building and repairing homes for people in need, aiming to eliminate poverty housing?
- Entrepreneur
- Global economy
- Habitat for humanity (correct)
- Personal capital
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