Asked by Kamia Bryan on Jun 17, 2024
Verified
According to the text, what is the MOST extreme form of socialism called?
A) capitalism
B) communism
C) Fordism
D) conflict theory
Extreme Form
A manifestation of a phenomenon or condition at its most intense or severe degree.
Socialism
An economic and political system where the production, distribution, and exchange of goods and services are regulated or owned by the community as a whole or the state.
Communism
A socio-political and economic ideology aiming for a classless society in which the means of production are owned communally, and private property is nonexistent or severely curtailed.
- Gain an understanding of the defining aspects and terminologies associated with economic models like capitalism, socialism, and communism.
Verified Answer
Learning Objectives
- Gain an understanding of the defining aspects and terminologies associated with economic models like capitalism, socialism, and communism.
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