In a Communist Economy

question 13

Multiple Choice

In a communist economy,

• A) the state controls the means of production.
• B) individuals decide what to produce, how to produce it and who gets it.
• C) economic decisions are decentralized.
• D) the market system is used to allocate resources.

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Definitions:

Time Lines

Schedules or timelines outlining the sequence and duration of tasks or events.

Cash Flows

The sum of funds flowing in and out of a company, particularly influencing its ability to cover short-term obligations.

Annuities

Financial products that pay out a fixed stream of payments to an individual, typically used as a retirement strategy.

Periodic Interest Rate

The interest rate charged or earned over a particular period of time, less than a year, on a loan or investment.