In the Context of Global Economy,which of the Following Has

question 126

Multiple Choice

In the context of global economy,which of the following has been widely accepted since the late 1980s?

• A) Centrally planned command economy
• B) Mixed economy
• C) Nationalization of private property
• D) Deregulation of economies to promote greater competition
• E) Authoritarian regime

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Definitions:

Marginal Cost

The elevation in costs incurred by the creation of an additional unit of a good or service.

Long-Run Equilibrium

A state in which all factors of production and economic inputs can be fully adjusted, and all market forces are balanced.

Increase in Demand

A situation where the quantity of a good or service that consumers are willing and able to purchase at a particular price rises.

Marginal Revenue

The additional revenue that a firm gains when it sells one more unit of a product or service.