Introductory Sociology CLEP Prep Practice Exam 2026 - Free Sociology CLEP Practice Questions and Study Guide

Question: 1 / 400

What is an example of an economic system?

Capitalism

Socialism

Communism

All of the above

An economic system refers to the way a society organizes its production, distribution, and consumption of goods and services. Capitalism, socialism, and communism are all examples of different economic systems. Capitalism is characterized by private ownership of property and a free market, while socialism involves public ownership of property and a planned economy. Communism involves collective ownership of property and a classless society. Thus, D, "All of the above," is the correct answer as it includes all three examples of economic systems. Option A, capitalism, and option B, socialism, refer to specific examples of economic systems rather than the broader concept. Option C, communism, is also a specific example and does not encompass all types of economic systems. So, while the other options may be accurate examples, they are not as comprehensive as option D.

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