One Problem That Plagued Many Communist Economies Was That the Absence

question 162

True/False

One problem that plagued many communist economies was that the absence of free markets resulted in crippling shortages and surpluses of goods and services.

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Definitions:

Worked Hours

The total number of hours spent by employees in performing their job duties within a specific period.

Gross Savings

The total amount of savings generated within an economy, representing the difference between income and consumption.

Budget Surplus

A financial situation where a government's revenues exceed its expenditures over a specific timeframe.

Military Spending

The amount of financial resources dedicated by a nation to maintaining and equipping its armed forces and defense activities.