Under the Old Soviet Version of Communism in the U

question 74

Multiple Choice

Under the old Soviet version of communism in the U.S.S.R. ,the questions of 'What?','How?',and 'For whom?' were answered by

• A)a democratically elected congress called the DumA.
• B)the law of supply and demand.
• C)the decisions of hundreds of millions of individual consumers.
• D)a government planning committee.
• E)the owners of private businesses.

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Definitions:

Average Revenue

The revenue a company generates per unit of output sold.

Profit (or Loss) Per Unit

The amount of money gained or lost on each unit of a product sold, calculated as the difference between the selling price and the cost of production.

Total Profit

is the financial gain made by a business after subtracting all expenses, taxes, and costs associated with generating the revenue.

Profit Per Unit

The amount of profit generated by selling one unit of a product or service.