The Decision About What Goods and Services Will Be Produced

question 1

Multiple Choice

The decision about what goods and services will be produced made in a centrally-planned economy is made by

• A)lawmakers in the government deciding on what will be produced.
• B)workers deciding to produce only what the boss says must be produced.
• C)producers deciding what society wants most.
• D)consumers and firms choosing which goods and services to buy or produce.
• E)consumers dictating to firms what they need most.

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Definitions:

Collectivist Cultures

Societies that prioritize group goals over individual ones and emphasize strong social ties and interdependence.

Ostracism

The exclusion of an individual or group from wider society, often used as a form of social punishment or correction.

Cyberball

A virtual ball-tossing game used in psychological research to study social exclusion and its effects.

Unstable Self-esteem

Refers to fluctuations in a person's self-worth, often dependent on external validation or success.