You studied for two hours each day for an entire week before your first marketing exam. When you turned in the test, you felt co
nfident that your efforts would pay off. At the next class meeting, your instructor said she was considering curving the grades because the class average was lower than she had anticipated. Suddenly, your 98% score did not have the same impact that it did when you first saw it! Now the guy next to you that got an 84% is likely to have an "A" grade too. As you analyze this situation, you realize that it parallels an economic system such as ________________, where even if you work harder than another person, you are likely to realize the same benefits.
Socialism is economic terms or in economic system refers that everyone in the society have equal ownership in the factors of production which includes the capital, labor, goods and natural resources. In other words it is the public ownership of the factors of production. According to the socialist, cooperative is the basic nature of humans.
Thus in the context, the situation resembles the idea of socialism in the economic system which gives equal benefits to all people putting in the different efforts in the test.
European nations had access to Chinese cities. China had less access to trade and new technology. Chinese culture was more influenced by European religion and ideas.
