Which of the Following Is a Problem Inherent in Centrally

question 88

Multiple Choice

Which of the following is a problem inherent in centrally planned economies?

• A)Households and firms make poor decisions in choosing how resources are allocated.
• B)There is too little production of low-cost, high-quality goods and services.
• C)Production managers are more concerned with satisfying consumer wants than with satisfying government's orders.
• D)Exports tend to exceed imports.

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Definitions:

Consultation

The process of getting advice or guidance from someone knowledgeable in a specific area.

Pressure Tactics

Strategies or methods applied to persuade or compel someone to act in a desired way, often involving the use of stress or coercion.

Executive Placement

The process of finding and positioning highly skilled and experienced individuals in senior management roles within organizations.

Managerial Position

A role within an organization that involves directing and overseeing the work of employees and making strategic decisions.