A Command Economic System Does Not Need to Be Concerned

question 49

True/False

A command economic system does not need to be concerned with what to produce,how to produce things,or who will get the goods and services produced.

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Definitions:

Nonlegal Obligations

Obligations that are not enforceable by law but may be morally or ethically binding.

GAAP

Generally Accepted Accounting Principles (GAAP) are a set of rules, standards, and procedures that companies must follow when compiling their financial statements in the United States.

Unconditional

Unconditional means not subject to any conditions or limitations; absolute.

Non-Cancellable

A contract or agreement that cannot be terminated or cancelled by either party involved.