The foundation of the U.S.economic system is based on:
A)Capitalism.
B)The ideas of Thomas Malthus.
C)Equality.
D)The saying,"from each according to ability,to each according to need."

Question

Quizplus · Accepted Answer

The U.S. economic system is based on capitalism, which is an economic system that emphasizes private ownership and control of resources and the means of production. In a capitalist system, individuals and businesses are free to make their own decisions about how to allocate resources and produce goods and services. This system is characterized by competition, profit motive, and the pursuit of self-interest. Capitalism is often contrasted with socialism, which emphasizes public ownership and control of resources and the means of production, and with communism, which advocates for the elimination of private property and the creation of a classless society.

The Foundation of the U