GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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France economically is between Socialism and Free Enterprise on a scale but is closer to one. Which one would France be closer to economically?
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Socialism
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Free Enterprise
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Key Takeaways Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.
Detailed explanation-2: -While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
Detailed explanation-3: -The role of a limited government is one of the most significant elements of a market economy, also known as a free enterprise economy.
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