In a Command Economy

question 150

Multiple Choice

In a command economy,

• A)producers generally have little choice about what goods and services to produce.
• B)the individual decisions of the many producers and consumers come together to make macro-level decisions.
• C)consumers make a society's production decisions.
• D)consumers decide what is to be produced and by whom through their dollar "votes."
• E)the market adjusts itself.

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Definitions:

Office Supplies

Consumable items used in an office setting, such as paper, pens, and office equipment.

Unearned Revenue

Prepayment from customers for goods or services which have not yet been delivered or performed, representing a liability until the obligation is fulfilled.

General Journal

The general journal is an accounting ledger in which all types of transactions are initially recorded, formatted by date, before being transferred to specific accounts in the general ledger.

Landscaping Services

Professional services that encompass the planning, designing, and maintenance of outdoor and garden spaces.