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:

Liability

A company’s legal financial debts or obligations that arise during the course of business operations.

Cash Payment

A transaction where payment for goods or services is made immediately using cash or a cash equivalent, as opposed to credit.

Depositor's Bank Account

A bank account held by an individual or entity, reflecting the current balance of their deposited funds.

Interest Earned

The income received from investment assets before taxes taken on interest-bearing accounts, loans, or bonds.