COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Democracy and free enterprise (Capitalism)
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Communism
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Either A or B
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None of the above
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Detailed explanation-1: -The U.S. economic system of free enterprise has five main principles: the freedom for individuals to choose businesses, the right to private property, profits as an incentive, competition, and consumer sovereignty.
Detailed explanation-2: -They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.
Detailed explanation-3: -The U.S. is often considered a highly capitalist country whose economy embodies the essence of a free market.
Detailed explanation-4: -Capitalism provides independence of persons from the state in a way that is necessary to a democratic society. This necessity can be shown through an attempt to have democracy while at the same time having state socialism with all property in control by the state.