In a Command Economy

question 131

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 the 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:

Quantitative Approaches

Quantitative Approaches involve the use of mathematical, statistical, and computational techniques to analyze and model data, often used in decision-making, problem-solving, and predicting outcomes.

Modern Management Approaches

Contemporary methodologies and strategies utilized in organizing, planning, leading, and controlling within organizations to improve efficiency and effectiveness.

Economic Criteria

Standards or benchmarks used to evaluate the economic performance or viability of a decision, investment, or project.

Theory Y Management

A management style based on the belief that employees are inherently motivated and can exercise self-direction and control when they are committed to objectives.