The Economic System That Answers the What, How and for Whom

question 83

Multiple Choice

The economic system that answers the What, How and For Whom questions the way they have always been answered is a:

• A) market economy.
• B) command economy
• C) soviet economy.
• D) traditional economy.

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Definitions:

Anxiety

An emotion characterized by feelings of tension, worried thoughts, and physical changes like increased blood pressure.

Loud Noise

Sounds that are of high amplitude, potentially harmful or disturbing to human hearing.

Parsimony

The principle that the simplest explanation of an event or observation is preferred over more complex explanations.

Anecdote

A short, amusing or interesting story about a real incident or person, often used to illustrate a point.