In a Socialistic System, Most Economic Decisions Are Made By

question 3

Multiple Choice

In a socialistic system, most economic decisions are made by:

• A) firms.
• B) consumers.
• C) stockholders.
• D) government planners.

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Definitions:

External Consequences

Outcomes that occur as a result of an action that affect the external environment or other people, beyond the individual who undertook the action.

Free Will

The concept that humans have the capacity to make choices and decisions independently of natural, social, or divine constraints.

Positive Outcomes

Favorable or beneficial results or effects of an action, behavior, or procedure.

Neutral Outcomes

Results or consequences of an action that neither significantly benefit nor harm the situation or the individuals involved.