Communist Theory Calls for Each of the Following Except

question 115

Multiple Choice

Communist theory calls for each of the following except

• A)the abolition of private property.
• B)from each according to his ability,to each according to his needs.
• C)the free operation of the forces of demand and supply.
• D)the means of production owned by the government and/or by the workers.

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Definitions:

Predetermined Overhead Rate

An estimated overhead rate used to allocate manufacturing overhead costs to products.

Direct Labor Cost

The total cost of wages, benefits, and other compensation for workers directly involved in the production of goods or services.

Applied Overhead

The estimated amount of overhead costs assigned to individual units of production, based on a predetermined allocation rate.

Factory Overhead

Those manufacturing costs that are not directly tied to the production process but are necessary for production to occur, such as maintenance, utilities, and salaries of indirect labor.