What Is the Type of Mechanism That Answers the Basic

question 35

Multiple Choice

What is the type of mechanism that answers the basic economic questions through a decentralized decision making process?

• A) Market system
• B) Dictatorship
• C) Command and control
• D) Mixed economic system

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Definitions:

Research Method

A systematic process used for collecting and analyzing information to increase our understanding of a topic or issue.

Survey

A research method used to collect data from a predefined group of respondents by asking questions and analyzing their responses.

Cost of Living

The total amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a specific place and time.

Residence Halls

These are living facilities within a college or university campus that provide housing to students.