Which Is True of an Economy Which Operates Entirely Through

question 92

Multiple Choice

Which is true of an economy which operates entirely through central planning?

• A) Individual economic incentive is reduced by the absence of the profit motive
• B) There is relative ease in matching resource allocation to consumer demand
• C) Central planners receive market information through the price mechanism
• D) The system adapts easily to technological change

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Definitions:

Instant Access

The ability to obtain information or data immediately, without any delay.

Different Users

Various individuals or groups that use or interact with a product, service, or system, each with distinct needs and preferences.

Different Locations

Refers to various places or positions, sometimes indicating the presence of objects or activities in multiple areas.

Double-Entry Bookkeeping System

An accounting method that records each transaction in two accounts, debit and credit, to ensure financial records balance.