Which of the Following Is NOT a Characteristic of a Centrally

question 89

Multiple Choice

Which of the following is NOT a characteristic of a centrally planned economy?

• A)Consumers vote with their dollars thus guiding resources to produce what the society wants.
• B)Government sets the prices.
• C)The government decides how much of each good should be produced.
• D)All of these statements are characteristics of centrally planned economy.

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Definitions:

Kin Selection

A theory in evolutionary biology that suggests an organism will behave in ways that increase the reproductive success of its genetic relatives, even at a cost to its own survival and reproduction.

Genetically Identical

Organisms or cells having the same DNA sequence in all of their genes.

Fraternal Twins

Twins that develop from two separate eggs fertilized by two different sperm cells, making them genetically distinct, unlike identical twins.

Equity Norm

The principle that fairness is achieved when individuals receive benefits proportionate to their contributions to the group, task, or relationship.