In a Command Economy, the What, How, and for Whom

question 37

Multiple Choice

In a command economy, the what, how, and for whom problems are determined by

• A)consumers.
• B)firms.
• C)the government.
• D)both consumers and firms.
• E)markets.

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Definitions:

Uncertainty

The lack of certainty or predictability in situations, which can impact decision-making and planning in businesses and personal affairs.

Inventories

Quantities of goods or materials that are held by a business as part of its current assets for the purpose of resale or production.

Supply Chain

A system connecting a business with its providers to manufacture and deliver a particular item to the end consumer.

Purchase Transactions

Financial exchanges or agreements where goods or services are bought and paid for.