In a Socialistic System, Most Economic Decisions Are Made By

question 3

Multiple Choice

In a socialistic system, most economic decisions are made by:

• A) firms.
• B) consumers.
• C) stockholders.
• D) government planners.

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Definitions:

Recognizance

An obligation in which a party acknowledges in court that he or she will perform some specified act and/or pay a price on failure to do so.

Bail

A thing of value, such as a money bail bond or any other form of property, that is given to the court to allow a person’s temporary release from jail and to ensure his or her appearance in court.

Offeree

A person or entity to whom an offer is made, which they can either accept or reject.

Offeror

The individual or party that presents a proposal or contract to another party for acceptance.