Which of the Following Statements Is False

question 66

Multiple Choice

Which of the following statements is false?

• A)In a centrally planned economy, decisions concerning the three essential questions are made by those who control the government.
• B)In a market economy, firms do not interact with consumers.
• C)The two alternative approaches to the three essential questions are market economies and command economies.
• D)In a market economy, decisions concerning the three essential questions result from interactions taking place in markets.
• E)In both centrally planned and market economies, the three essential economic questions are what, how, and for whom.

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Definitions:

Global Village

Marshall McLuhan’s term describing the way that new communication technologies override barriers of space and time, joining together people all over the globe.

Marshall McLuhan

A Canadian philosopher known for coining the expressions "the medium is the message" and "global village," and for his work on the effects of mass media on culture and human perception.

English Premier League

A professional football league in England, regarded as one of the top football leagues in the world.

Promise Keepers

An Evangelical Christian organization for men, aiming to instill in them a commitment to living according to biblical standards.