A nation based on individualism would agree that
communal property is more highly productive than private proper public good should be preferred over private profit. state-owned companies should monopolize certain industries. the welfare of society is best served by some collective body suc government.
free market ideologies should be followed for achieving better st living.
The correct answer and explanation is:
Correct Answer:
Free market ideologies should be followed for achieving better standards of living.
Explanation:
A nation based on individualism emphasizes the rights, responsibilities, and freedoms of the individual rather than prioritizing collective or communal goals. In such societies, the core belief is that individuals are capable of making decisions that benefit their own well-being and, through their actions, contribute to the overall progress and prosperity of society. This philosophy aligns with free-market ideologies, which advocate for minimal government intervention in economic activities and promote competition, innovation, and entrepreneurship.
Under a free-market system, individuals and private businesses are allowed to operate with relative freedom to produce goods and services, set prices, and determine the allocation of resources based on market demand. This system encourages efficiency and innovation because businesses compete to provide better products and services to attract consumers. It also allows individuals to benefit from their own hard work and creativity, fostering a sense of ownership and accountability.
Individualism rejects the notion of communal property or state monopolies dominating industries because such systems often lead to inefficiencies, lack of innovation, and a misallocation of resources. State-controlled economies can stifle individual initiative and creativity, as they often rely on central planning rather than responding to the diverse needs and preferences of society.
Free markets also provide opportunities for upward social mobility, enabling individuals to improve their standards of living through merit and effort. While individualism does not necessarily dismiss the need for social safety nets or public goods, it prioritizes personal responsibility and the belief that a free and competitive economy leads to better societal outcomes. Historical examples, such as the economic prosperity of the United States and other Western nations, demonstrate how free-market ideologies have contributed to advancements in technology, higher living standards, and greater economic growth compared to collectivist systems.