ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Americans
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Native Americans
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Europeans
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None of the above
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Detailed explanation-1: -The U.S. has a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces the free market when it comes to capital use, but it also allows for government intervention for the public good.
Detailed explanation-2: -"Indigenous peoples” is a collective name for the original peoples of North America and their descendants. Often, “Aboriginal peoples” is also used. The Canadian Constitution recognizes 3 groups of Aboriginal peoples: Indians (more commonly referred to as First Nations), Inuit and Métis.
Detailed explanation-3: -In 2022, The World Population Review labeled Brazil, Haiti, Alaska, Yemen, Canada, and Greenland as traditional economies. Most conventional economic systems are found in Asia, Africa, Latin America, and the Middle East.