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Private ownership and a free enterprise economy are key to which of the Western Market​ Systems?

A.The Nordic model
B.The American model
C.The​ Anglo-Saxon model
D.The Communist mode

1 Answer

1 vote

Final answer:

Private ownership and a free enterprise economy align with The American model among Western market systems, emphasizing decentralized decision-making and minimal government influence compared to command economic systems. The correct option is B.

Step-by-step explanation:

The key components of private ownership and a free enterprise economy are most characteristic of The American model of Western market systems.

This model is known for its strong emphasis on property rights, decentralization of decision-making, and the minimal role of government in economic decisions, contrasting starkly with the command economy systems like those seen in communist societies.

The American economy, while mixed like others, tends more towards the market-oriented spectrum with significant private ownership and influence over economic decisions.

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