In a Command Economy

question 131

Multiple Choice

In a command economy

• A) producers generally have little choice about what goods and services to produce.
• B) the individual decisions of the many producers and consumers come together to make the macro-level decisions.
• C) consumers make a society's production decisions.
• D) consumers decide what is to be produced and by whom through their dollar "votes."
• E) the market adjusts itself.

Recognize the factors affecting the efficiency of labor and capital utilization.

Understand fiscal and monetary policies and their application in economic scenarios.

Understand the concept of the payback period and its application in evaluating capital investments.

Grasp the meaning and calculation of the average rate of return for capital budgeting decisions.

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Definitions:

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