Which of the Following Is a Problem Inherent in Centrally

question 88

Multiple Choice

Which of the following is a problem inherent in centrally planned economies?

• A)Households and firms make poor decisions in choosing how resources are allocated.
• B)There is too little production of low-cost, high-quality goods and services.
• C)Production managers are more concerned with satisfying consumer wants than with satisfying government's orders.
• D)Exports tend to exceed imports.

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Definitions:

Long-Lasting Ties

Enduring relationships or connections between individuals, groups, or entities that are characterized by loyalty and mutual support.

Financial Comparisons

The action of evaluating and contrasting financial metrics, statuses, or situations between two or more entities or over time.

Close Friendships

Deep, significant personal relationships characterized by mutual affection, support, and a strong emotional bond.

Reciprocity

Mutual exchange of privileges, benefits, or actions between parties, where each party provides something of value to the other.