Which of the Following Is True About the Three Broad

question 115

Multiple Choice

Which of the following is true about the three broad types of economic systems?

• A)For a pure market economy to function efficiently product supply must be restricted.
• B)In a command economy,state-owned enterprises have little incentive to control costs and be efficient.
• C)The sole role of government in a command economy is to encourage vigorous free and fair competition between private producers.
• D)Mixed economies were once uncommon throughout much of the world,although they are becoming more popular now.
• E)Production in command economies is determined by the interaction of supply and demand and signaled to producers through the price system.

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Definitions:

R

Often used as a symbol representing the interest rate or rate of return in financial equations.

Budgeted Sales

The projected amount of sales revenue a company expects to earn over a specific period, often used for planning purposes.

Actual Sales

The real revenue generated from goods or services sold, measured within a specific period.

Implied Value

a value that is not directly stated but can be derived from given information through analysis or calculation.