With Regard to Various Economic Systems, Most Economists Agree That

question 44

Multiple Choice

With regard to various economic systems, most economists agree that

• A)most production and consumption decisions are more efficiently coordinated by markets than through central planning.
• B)the mix of market and command principles that exists in Canada is the best.
• C)command economies have been very successful in distributing income in socially just ways.
• D)the optimal mix of market and command systems remains constant over time.
• E)government intervention in the economy is only justified in time of war.

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Definitions:

Annapolis Rotary Club

A service organization located in Annapolis that is part of the global Rotary Club network, focusing on community service and international projects.

Condiments

Substances such as salt, pepper, mustard, and mayonnaise that are added to food to enhance flavor.

Mark-up

Extra pricing over the cost of goods aiming to take care of overheads and profit.

Mark-up

The sum added onto the purchase price of products to cover both overhead expenses and profit, establishing the retail price.