The Private Ownership of Property Resources and Use of Prices

question 16

Multiple Choice

The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of:

• A)a command system.
• B)a market system.
• C)communism.
• D)socialism.

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Definitions:

Strengths And Weaknesses

An assessment of the positive attributes and areas for improvement in an individual, organization, or strategy.

Contingency Planning

The process of preparing strategies to deal with potential future emergencies, disruptions, or unexpected events.

Organizational Structure

The system of rules, roles, and responsibilities within a company that determines how it operates and how its employees work together.

Contingency Plan

A strategy or plan prepared in advance to deal with possible future emergencies, changes, or unexpected events.