Which Feature Is Characteristic of Centrally Planned Economies

question 4

Multiple Choice

Which feature is characteristic of centrally planned economies?

• A)Government officials set prices.
• B)Religious authorities decide production quotas.
• C)Consumers have a wide range of products from which to choose.
• D)Governments cannot guarantee the basic needs of citizens.

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Definitions:

Signaling Mechanism

A method or action taken to convey information or intentions between parties, often used in economics and biology to indicate quality or status.

Screening Mechanism

A process or method used by entities to filter or select suitable candidates or options based on specific criteria.

Engagement Ring

A piece of jewelry often featuring diamonds or other gemstones, traditionally given during a proposal to symbolize intent to marry.

Direct Marketing

A form of advertising where businesses communicate directly with customers through various channels like mail, email, or phone.