A Command Economy That Is Now Allowing for a Role

question 181

Multiple Choice

A command economy that is now allowing for a role for markets is known as a _____

• A) traditional system.
• B) transitional system.
• C) pure command system.
• D) mixed system.
• E) pure capitalism system.

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Definitions:

Authority To Accept

The legal power or permission given to an individual or entity to agree to the terms of a contract on behalf of another.

Depositary Bank

The first bank to receive a check for payment.

Check Is Drawn

The process by which a check is issued by an account holder, instructing their bank to pay a specified sum to a party named on the check.

Check-Processing Time

The duration it takes for a bank to process a check payment, clearing the funds from the payer's account to the payee.