An Evaluation of Centrally Planned Economies Reveals That They

question 135

Multiple Choice

An evaluation of centrally planned economies reveals that they:

• A) put a premium on technological innovation.
• B) achieved a nearly equal distribution of income.
• C) were successful in attaining economic efficiency.
• D) experienced production rigidities and shortages.

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Definitions:

All-Expenses-Paid Trip

A fully compensated journey where all costs associated with travel, accommodation, and sometimes meals and activities are covered by the sponsoring entity.

Extrinsic Reward

Rewards given to motivate employees that are tangible and external, such as salary increases or bonuses.

Annual Sales Volume

The total revenue generated from sales of goods or services by a company during a fiscal year, often used as a measure of company size and growth.

High Turnover

A situation where a company or a specific department experiences a higher than normal rate of employees leaving the organization.