In Practice,the Term "Centrally Planned Economy" Refers to an Economy

question 57

Multiple Choice

In practice,the term "centrally planned economy" refers to an economy in which

• A)the government makes ALL production and consumption decisions.
• B)the mix of market and command principles is heavily weighted towards the latter.
• C)all commodities are rationed.
• D)the military is in control of the government.
• E)economic decisions are made in the geographic centre of the country.

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Definitions:

Supply Chain Cost

The total expenses incurred in the production and delivery of a product, from raw materials acquisition to final delivery to the customer, including manufacturing, transportation, and inventory costs.

Customer Experience

The perception and response of customers resulting from the use or anticipated use of a company's products or services, encompassing every touchpoint and interaction.

Profitability

The degree to which a business or activity yields profit or financial gain, typically measured over a specific period of time.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.