One Basic Problem Faced by Central Planners, but Hardly Present

question 204

Multiple Choice

One basic problem faced by central planners, but hardly present in a market system, has to do with

• A) determining the production goals or targets in a factory.
• B) having limited resources and trying to match them with unlimited wants.
• C) coordinating production in various industries so that bottlenecks do not develop.
• D) providing financial resources for increasing the real flows of products in the economy.

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Definitions:

Sociological Imagination

The capacity to shift from one perspective to another to understand the relationship between individual experiences and larger social influences.

Beginner's Mind

An approach or mindset that is open and without preconceptions, much like that of a beginner, regardless of the individual's level of expertise.

Culture Shock

The feeling of disorientation experienced by individuals when they are suddenly subjected to an unfamiliar culture, way of life, or set of attitudes.

Conflict Theory

A sociological perspective that views social life as a competition, and social inequities as the result of conflict between different groups.