In the Soviet Union, Firm Managers Had ______ Incentive to Reduce

question 118

Multiple Choice

In the Soviet Union, firm managers had ______ incentive to reduce costs and produce better products because of ______.

• A)little; the absence of private property rights
• B)little; the absence of import restrictions
• C)great; government threats
• D)great; the complexity of coordinating economic activity

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Definitions:

Distorts Reality

Alteration or misrepresentation of the true nature of a situation or fact, leading to a skewed perception.

Socializer

An individual or agent responsible for guiding or influencing the socialization process of others, often by teaching norms, values, and social skills.

Commercial Advertising

The practice of promoting and selling products or services through paid announcements in various media outlets.

Deregulation

The process of removing government restrictions and rules from industries to encourage increased efficiency and competition.