Which Type of Economy Must Answer the Questions of What

question 130

Multiple Choice

Which type of economy must answer the questions of what goods to produce, how to produce them, and for whom to produce them?

• A)A centrally planned economy
• B)A market-based economy
• C)A developing economy
• D)All types of economies must answer these questions.

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Definitions:

Minority Groups

Social groups that are differentiated from the majority in a society through cultural, ethnic, racial, or religious characteristics.

Highly Cohesive

Highly cohesive describes a group or material that sticks together strongly, in social contexts referring to a group closely united in purpose or function.

Strategic Planning

The process of defining a direction for an organization by setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

External Threat

A danger or risk stemming from the environment outside of oneself or one's organization.