Decisions in the Former Soviet Union Led to Inefficiency, Because

question 109

Multiple Choice

Decisions in the former Soviet Union led to inefficiency, because:

• A) planners incorporated consumer preferences into their decisions.
• B) planners did not incorporate costs of all the factors of production in their decisions.
• C) the market was not completely abandoned.
• D) the market was overutilized.

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Definitions:

Article 3

Often refers to a section of a constitutive document of an organization, treaty, or a part of a legal code detailing specific provisions related to governance, legal processes, or rights.

Certificates of Deposit

Fixed-term financial instruments issued by banks that offer a fixed interest rate in exchange for keeping the deposit untouched for a predetermined period.

Orders to Pay

Instructions typically issued by a debtor authorizing their bank to pay a specified amount of money to a creditor on a certain date.

Certificate of Deposit

A Certificate of Deposit is a financial product offered by banks that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time.