Pure Capitalism and a Pure Command System Represent

question 195

Multiple Choice

Pure capitalism and a pure command system represent

• A)two different ways of answering the basic economic questions
• B)two names describing the same method of answering the basic economic questions
• C)the only two ways of answering the basic economic questions
• D)the most efficient ways to answer the basic economic questions
• E)none of the above

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Definitions:

Price Sensitivity

How much the desire for a product or service shifts in response to price variations.

Strategic Decisions

High-level choices that determine the direction and success of an organization.

Weekly Profit

The amount of financial gain made in a business operation over the course of a week.

Gray Market

The sale of branded products through legal but unauthorized distribution channels.