Suppose a = {A, B, C} and B = {B

question 77

True/False

suppose A = {a, b, c} and B = {b, {c}}. Mark the statement TRUE or FALSE.
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Definitions:

Command Economies

An economic system where the government or a central authority makes all decisions about the production and distribution of goods and services.

Planned Economies

Economic systems where decisions regarding production, investment, and distribution are based on a comprehensive plan of action by a central authority.

Central Authority

A governing body or organization that holds the primary power and control over a specified collective or region, often tasked with decision-making and regulation duties.

Production Frontier

Also known as the production possibility frontier, it illustrates the maximum possible output combinations of two goods or services a business can achieve with its current resources and technology.