When a Country Like North Korea Is Characterized as a Command

question 64

Multiple Choice

When a country like North Korea is characterized as a command economy, it's because most prices are

• A)determined in the market, and they usually lead to market failures.
• B)set by the government, which usually leads to inefficiencies.
• C)determined in the market, and they result in efficient outcomes.
• D)set by the government, and they result in efficient outcomes.
• E)determined in the market, and they usually lead to inefficiencies.

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Definitions:

Conscious Awareness

Being cognizant of and capable of reflecting on one’s own being, perceptions, thoughts, environment, and life occurrences.

Cocktail Party Effect

The ability to focus one's auditory attention on a particular stimulus while filtering out a range of other stimuli, as at a noisy gathering.

Change Blindness

An inability or failure to notice large changes in one's environment or in a visual stimulus when the change occurs simultaneously with a visual disruption.

Selective Inattention

The process by which an individual unconsciously chooses to ignore or disregard certain stimuli in their environment.