Which of the Following Is a Reason That Command Economies

question 74

Multiple Choice

Which of the following is a reason that command economies tend to stagnate?

• A) Costs are tightly controlled and business are forced to be efficient rather than dynamic and innovative.
• B) The abolition of private ownership means there is no incentive for individuals to look for better ways to serve consumer needs.
• C) All economic resources are mobilized for the public good.
• D) Individuals in command economy countries lack the skills to be innovative.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake, for the pleasure and satisfaction derived from participation.

Self-Efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments, influencing how goals, tasks, and challenges are approached.

Grit

A personality trait characterized by perseverance and passion for long-term goals.

External Motivation

is the push or drive to perform a task or engage in an activity due to factors outside oneself, such as rewards or the avoidance of negative consequences, effectively a synonym for extrinsic motivations with an emphasis on its external nature.