In Most Societies, Resources Are Allocated by

question 77

Multiple Choice

In most societies, resources are allocated by

• A)a single central planner.
• B)a small number of central planners.
• C)those firms that use resources to provide goods and services.
• D)the combined actions of millions of households and firms.

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Definitions:

Platt Amendment

An amendment passed in 1901 that stipulated the conditions for the withdrawal of United States troops remaining in Cuba after the Spanish-American war, greatly influencing Cuba's sovereignty.

Cuban Affairs

Refers to the political, social, and economic activities and policies involving Cuba and its relationship with other countries.

United States

A federal republic in North America comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Treaty of Paris

A historic agreement that ended the American Revolutionary War in 1783, acknowledging the United States of America as an independent nation.