In the Evaluation of Centrally Planned Economies, It Is Evident

question 68

Multiple Choice

In the evaluation of centrally planned economies, it is evident that they:

• A) placed a high priority on technology and innovation.
• B) achieved an equal distribution of income.
• C) experienced shortages and production rigidities.
• D) were efficient.

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Definitions:

Accounts Receivable

Sum owed by clients to a company for goods or services that have been dispatched or provided, with payment still due.

Cost of Goods Sold

Cost of Goods Sold (COGS) is the direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the good.

Accounts Receivable

Outstanding amounts due to a firm from customers for goods or services already delivered.

Cost of Goods Sold

Costs directly associated with the manufacturing of products that a business sells.