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ralph started farming 45 years ago on 200 acres of land. over the years, he inherited land from relatives and bought some acreage as well. ralph now farms 2,300 acres with his son, wayne. ready to retire, ralph will pass the operation to his son, and wayne will inherit the land and equipment when ralph dies. this is an example of the in a capitalist system.
ralph started farming 45 years ago on 200 acres of land. over the years, he inherited land from relatives and bought some acreage as well. ralph now farms 2,300 acres with his son, wayne. ready to retire, ralph will pass the operation to his son, and wayne will inherit the land and equipment when ralph dies. this is an example of the in a capitalist system.
Final answer:The given scenario is an example of inheritance in a capitalist system. This process allows wealth such as land and equipment to be passed down from generation to generate familial wealth.Explanation:This is an example ofinheritancein a capitalist system. Inheritance is a key aspect of capitalism that allows wealth (in this case, land and farming equipment) to be passed from one generation to the next. Ralph, who started out with 200 acres of land, was able to expand his operations through inheritance and purchasing additional land. When he retires, Ralph's son Wayne will inherit all the assets. This inheritance will allow Wayne to continue the farming operation without having to start from scratch, which supports the continuation and growth of familial wealth in a capitalist system.Learn more about Inheritance in Capitalism here:brainly.com/question/36478075#SPJ2...