Which of the Following Best Explains the Difference Between a Market

question 46

Multiple Choice

Which of the following best explains the difference between a market economy and a planned economy?

• A) In a planned economy, consumers have little choice in where people work or what they purchase or pay. In a market economy, there is more choice in where people work or what they purchase or pay.
• B) In a market economy, consumers must pay what the market demands.
• C) Capitalism is the root of a planned economy.
• D) Market economies are also known as mixed market economies.
• E) Planned economies promote the use of privatization to increase market share.

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Definitions:

Flexible Working Hours

A work arrangement that allows employees to adjust their working times and locations, promoting work-life balance.

Telecommuting

The practice of working remotely, often from home, using digital communication technologies instead of being physically present at a company's office.

Compressed Workweek

An alternative work schedule allowing employees to work longer hours on fewer days, often resulting in a three-day weekend.

Telecommuting

It involves working from a remote location outside of a traditional office environment, often from home, using technology to stay connected.