Which of the Following Statements Best Describes the Role Played

question 45

Multiple Choice

Which of the following statements best describes the role played by prices in a command economy such as the former Soviet Union?

• A) Prices were used to allocate resources.
• B) Prices played the same role as in a market economy.
• C) Prices were used to ration final goods and services but not to allocate resources.
• D) None of the above statements is descriptive.

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Definitions:

Sam's Club

A membership-only retail warehouse club owned and operated by Walmart Inc., offering a variety of merchandise and services.

Costco

A multinational corporation that operates a chain of membership-only warehouse clubs offering a wide selection of merchandise.

Hypermarkets

Large retail spaces combining a supermarket and a department store, offering a wide range of products under one roof.

Supercenters

Large retail establishments that combine a supermarket and a department store, offering a wide variety of goods and services.