Today, China's Economy Most Closely Approximates

question 37

Multiple Choice

Today, China's economy most closely approximates:

• A)pure capitalism
• B)a command economy
• C)market socialism
• D)authoritarian capitalism

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Definitions:

Decentralized Authority

The distribution of decision-making powers to lower levels within an organizational structure, allowing for more autonomy and quicker decision making at those levels.

Centralization

The concentration of decision-making authority at the upper levels of an organization, resulting in a narrower span of control.

Concentration of Authority

The centralization of decision-making power within a few positions or persons in an organization.

Organization Levels

The distinct layers of authority within an organization that define hierarchy and the division of roles and responsibilities.