All of the Following Are Characteristics of Communist Countries Such

question 191

Multiple Choice

All of the following are characteristics of communist countries such as Cuba except

• A) intensive production of goods the government needs.
• B) all workers contribute to society according to their ability.
• C) frequent shortages of consumer goods.
• D) government ownership of almost all economic resources.
• E) an adequate supply of consumer goods.

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Definitions:

Fixed Costs

Costs that do not change with the level of output or production, such as rent, salaries, or loan payments.

Fixed Costs

Costs that do not vary with the level of output or production, such as rent, salaries, and loan payments.

Variable Costs

Costs that vary directly with the level of production or output.

Yearly Return

The percentage of increase or decrease in the value of an investment over a one-year period.