The Fact That the Major Indicator of Enterprise Success in the Soviet

question 14

Multiple Choice

The fact that the major indicator of enterprise success in the Soviet Union and pre-reform China was the quantity of output implied that

• A) product quality was neglected.
• B) production costs were minimized.
• C) product mix met consumer needs.
• D) technological advance was too rapid.

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Definitions:

Rescission

The legal remedy of canceling, terminating, or annulling a contract and restoring the parties to their original positions as if the contract had never been made.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover losses or injuries that have been directly caused by the actions of the defendant.

Negligent Misrepresentation

A false statement made carelessly that causes someone to suffer damages because they relied on it being true.

Fraudulent Misrepresentation

Intentional deception made by one party to induce another to enter into a contract, resulting in harm or loss.