In a Planned Economy, the Concept of Efficiency Is

question 114

Multiple Choice

In a planned economy, the concept of efficiency is

• A)more important than in a market economy.
• B)less important than in a market economy.
• C)not important at all.
• D)as important as in a market economy.

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Definitions:

Percents

A mathematical representation of a fraction of 100, used to describe proportions or rates.

Decimals

Numbers expressed using a decimal system, involving a point to separate the whole number from the fractional part.

Mixed/Whole Numbers

Numbers that consist of both an integer and a fraction part.

Percents

A mathematical term denoting fractions of a hundred, used to describe proportions, interest rates, and changes in values.