in most exchanges between two people *\n- one persons gain is the other persons loss\n- both people lose\n…

in most exchanges between two people *\n- one persons gain is the other persons loss\n- both people lose\n- both people believe they are benefiting\n- no one really benefits or loses\n\nwalshland requires that everyone shares all of the resources they have and everyone takes care of each other because it is a classless society where everyone is equal. what type of economic system is walshland?\n- capitalism\n- socialism\n- communism\n- mercantilism

in most exchanges between two people *\n- one persons gain is the other persons loss\n- both people lose\n- both people believe they are benefiting\n- no one really benefits or loses\n\nwalshland requires that everyone shares all of the resources they have and everyone takes care of each other because it is a classless society where everyone is equal. what type of economic system is walshland?\n- capitalism\n- socialism\n- communism\n- mercantilism

Answer

Brief Explanations:

  1. In most exchanges between two people, both parties usually believe they are getting something of value, so they believe they are benefiting. This is based on the principle of voluntary - exchange in economics.
  2. Communism is characterized by a class - less society where resources are shared and everyone takes care of each other. Capitalism is based on private ownership and profit - seeking. Socialism has state - owned and collective - owned elements. Mercantilism focuses on trade surpluses.

Answer:

  1. C. both people believe they are benefiting
  2. C. Communism