One Basic Problem Faced by Central Planners, but Hardly Present

question 123

Multiple Choice

One basic problem faced by central planners, but hardly present in a market system, has to do with:

• A) Determining the production goals or targets in a factory
• B) Having limited resources and trying to match them with unlimited wants
• C) Coordinating production in various industries so that bottlenecks do not develop
• D) Providing financial resources for increasing the real flows of products in the economy

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Definitions:

Autonomy

The capacity to make an informed, uncoerced decision; often associated with independence and self-governance.

Competence

The ability to do something successfully or efficiently.

Identity

Identity refers to the qualities, beliefs, personality traits, and expressions that make a person (or group) distinct.

Sense of Identity

An individual's perception of themselves, including their beliefs, qualities, and values that define who they are.