In Practice, Distribution Under Socialism Is Primarily Determined By

question 117

Multiple Choice

In practice, distribution under socialism is primarily determined by:

• A) individual altruism and cooperation.
• B) the ability of each individual to produce.
• C) central planners within the government.
• D) market forces of supply and demand.

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Definitions:

Poverty

is the state of having insufficient material possessions or income for a person's basic needs.

Marginal Time

The additional time required to produce one extra unit of output or complete an additional activity.

Legoland

A theme park chain inspired by the Lego brand, featuring rides, shows, and models made of millions of Lego bricks.

Efficient Market

A market in which all available information is fully and immediately reflected in stock prices, making it impossible to achieve consistently higher returns.