Economic Systems Differ from One Another Based on Who Owns

question 36

Multiple Choice

Economic systems differ from one another based on who owns the factors of production and

• A) how many resources are available in the economy and where they are located.
• B) how economic activities are coordinated and directed.
• C) what kinds of products are produced in the economy and how they are sold.
• D) how big the population is and the makeup of the population.

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Definitions:

Expected Duration

The anticipated amount of time which will elapse before a particular project or activity is completed.

Critical Path

The critical path is the longest sequence of activities in a project plan that must be completed on time for the project to finish by its due date.

Activity Variance

The difference between the expected performance or cost of an activity and its actual performance or cost.

Preceding Activity

In project management, an activity that must be completed before a subsequent activity can begin.