"Under Central Planning, Some Group Has to Decide How to Get

question 142

Multiple Choice

"Under central planning, some group has to decide how to get the necessary inputs produced in the right amounts and delivered to the right places at the right time. This is a nearly impossible task without markets and profits." This quotation best identifies the

• A)incentive problem under central planning.
• B)coordination problem under central planning.
• C)self-sufficiency dilemma under communism.
• D)resource overcommitment problem under communism.

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Definitions:

Classical Conditioning

A conditioning approach where pairing two stimuli repeatedly results in a response that, though initially evoked by the second stimulus, is later elicited solely by the first stimulus.

Reinforcement

A concept in psychology referring to any process that increases the likelihood of a behavior being repeated, using rewards or punishments following that behavior.

Social Learning

The process of acquiring skills, knowledge, and behaviors by observing and imitating others.

Bribery

The offering, giving, receiving, or soliciting of any item of value as a means of influencing the actions of an individual holding a public or legal duty.