In a Planned Economy

question 129

Multiple Choice

In a planned economy,

• A)prices are used to coordinate economic activity.
• B)central planners set production targets and tell producers how to produce.
• C)high prices discourage use of the most scarce resources.
• D)central planners allow the price to determine distribution of a product.

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Definitions:

Simplification

The process of reducing a mathematical expression or equation to its simplest form.

Like Terms

Terms in an algebraic expression that have the same variable factors and thus can be combined or simplified.

Mathematical Expression

A combination of numbers, variables, and operators (such as +, -, *, /) that represent a value or quantity.

Mathematical Expression

A combination of numbers, symbols, and operators designed to represent a specific mathematical computation or value.