The Abolition of ________ in a Command Economy Means There

question 16

Multiple Choice

The abolition of ________ in a command economy means there is no incentive for individuals to look for better ways to serve consumer needs.

• A) private ownership
• B) public ownership
• C) government-owned businesses
• D) co-operatives

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Definitions:

Compounded Semi-Annually

Interest on an investment that is calculated twice a year and added to the principal sum, affecting the total interest earned.

Economic Equivalent

A comparison of the economic attributes of two or more investment or financial scenarios to determine their relative value or financial impact.

Missed Payment

Failure to make a required payment by its due date.

Original Principal

The initial amount of money borrowed or invested, before any interest or profit is added.