Which of the Following Is True of an Economy That

question 255

Multiple Choice

Which of the following is true of an economy that operates entirely through central planning?

• A) An individual's success in business is based on political savvy rather than economic profitability.
• B) There is relative ease in matching resource allocation to consumer demand by the central planners.
• C) Central planners receive market information and coordinate economic activity through the price mechanism.
• D) The system adapts easily to technological change, because there is a healthy entrepreneurial spirit.

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Definitions:

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