Market Economies Are Not Constrained by Scarcity; Only Planned Economies

question 23

True/False

Market economies are not constrained by scarcity; only planned economies have that problem.

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Definitions:

Group RRSPs

Group Registered Retirement Savings Plans, an employer-sponsored retirement savings plan that benefits from group contributions and tax advantages.

Defined Contribution Plans

A type of retirement savings plan where the amount of the employer's annual contribution is specified, with the future retirement benefits depending on the investment's performance.

Defined Benefit Plans

A type of pension plan where an employer promises a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.

Portable

Refers to something that is easily movable or transferable from one context or use to another.