A System of Economic Organization in Which the Ownership and Control

question 111

Multiple Choice

A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called

• A) socialism.
• B) a market economy.
• C) a corporate economy.
• D) capitalism.

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Definitions:

Downsizing

The reduction of an organization's workforce to improve its efficiency or reduce costs.

Workforce Reduction Programs

Initiatives taken by organizations to decrease the number of employees through methods such as layoffs, buyouts, or retirements to reduce costs and improve efficiency.

Cutting Costs

The process of reducing expenses in order to improve a company's financial performance or maintain its competitiveness.

Offshoring

The practice of relocating business processes or manufacturing to another country to reduce costs or improve efficiency.