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Which of the following best describes the concept of a "Welfare Economy"?

AAn economy focused solely on maximizing GDP

BAn economic system that prioritizes social welfare and equitable distribution of resources

CAn economy that relies primarily on free-market principles

DAn economic framework that encourages privatization of public services

Answer:

B. An economic system that prioritizes social welfare and equitable distribution of resources

Read Explanation:

A Welfare Economy emphasizes the well-being of individuals and communities by prioritizing social welfare, equitable distribution of resources, and addressing inequalities


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