Which of the Following Is Uncharacteristic of a Socialist Economy

question 43

Multiple Choice

Which of the following is uncharacteristic of a socialist economy?

• A) All capital and capital goods are privately owned.
• B) The government owns and controls key industries.
• C) Land and raw materials may be the property of the state.
• D) What to produce and how to produce it are based on national goals.
• E) Distribution of goods and services is controlled by the state.

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Definitions:

Strategy Map

A visual tool used in strategic planning to align an organization's missions, visions, and goals to its strategy, displaying the cause-and-effect relationships among different strategic objectives.

Strategic Objectives

These are specific, measurable goals set by a business to guide its strategic direction and assist in achieving its overarching purposes.

Internal Processes

The systematic procedures and workflows within an organization that contribute to its operational efficiency and goal achievement.

Strategic Objective

A clearly defined goal that a company aims to achieve in the long term, guiding its direction and business decisions.