Which Type of Economic System Will Produce the Highest Degree

question 174

Multiple Choice

Which type of economic system will produce the highest degree of allocative efficiency?

• A)a perfectly competitive market system 
• B)a purely command economic system 
• C)a market system with limited price controls and price ceilings 
• D)a command system with limited market activity for non-essentials

Understand the role of performance measurement in the controlling process.

Recognize the significance of preparing for and monitoring the effectiveness of control systems.

Develop an understanding of how control systems support strategic objectives.

Understand the factors that cause shifts in the supply curve, including technology advances and input prices.

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Definitions:

Indispensable

Absolutely necessary or essential for something to function properly or to achieve a particular goal.

Publicity

The exposure or attention that a product, person, or organization receives through media channels, usually without direct payment.

Travel Guides

Publications or online resources that provide information and tips to travelers about destinations, accommodations, attractions, and itineraries.

Direct Marketing

A form of advertising where companies communicate directly with the consumer through mail, email, texts, and other marketing materials without the use of intermediaries.