WORLD WAR II 1941 1945
THE YALTA CONFERENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An economic system based on the private ownership of property, business and industry. In a capitalist state the government has little role to play in the economy.
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A political and economic theory that adheres to the notion of a classless society based on public ownership of most property, business and industry.
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A political philosophy that government should be chosen by the people through free elections with the participation of an unlimited number of political parties.
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An economic and political ideology that advocates state (government) ownership and control of the means of production. According to socialism, the needs of the community must come before the needs of the individual.
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Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.
Detailed explanation-2: -Capitalist development requires that government play two roles, one administrative, in providing and maintaining the institutions that underpin capitalism, and the other entrepreneurial, in mobilizing power to modernize these institutions as needed.
Detailed explanation-3: -The primary functions of the capitalist state are to provide a legal framework and infrastructural framework conducive to business enterprise and the accumulation of capital.
Detailed explanation-4: -capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.