Communism as an Economic System Has Failed Due to the Tendency

question 9

Multiple Choice

Communism as an economic system has failed due to the tendency of common goals to stunt:

• A)Progression and individual creativity
• B)Individual productivity
• C)Individual freedom
• D)Profit and growth

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Definitions:

Direct Materials

Materials that are traceable to the production of specific goods or services and included in the cost of those goods or services.

Direct Labour

is the cost associated with workers who are directly involved in the production of goods or services, such as wages for assembly line workers.

Prime Cost

The sum of direct materials and direct labor costs that are directly attributable to the production of a product.

Product Cost

The total expenditure incurred to produce a product, including direct materials, direct labor, and overhead.