When Great Precision in the Coordination of Individual Productive Activities

question 95

Multiple Choice

When great precision in the coordination of individual productive activities is required,

• A)such activity must be organized by the government.
• B)economic activity comes to a stop.
• C)the price (or market) system must be completely scrapped.
• D)monarchy is necessary.
• E)organizations such as firms are formed.

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Definitions:

Industrialization

Industrialization is the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, often accompanied by technological innovation.

Nuclear Family

Two-generational kinship, economic, and household unit consisting of one or two parents and their biological children, adopted children, or stepchildren.

Extended Family

A family grouping that extends beyond the nuclear family, including relatives such as grandparents, aunts, uncles, and cousins.

Multigenerational Kinship

The study or concept of familial relationships that span across multiple generations within a family.