Which of the Following Is a Problem Inherent in Centrally

question 88

Multiple Choice

Which of the following is a problem inherent in centrally planned economies?

• A)Households and firms make poor decisions in choosing how resources are allocated.
• B)There is too little production of low-cost, high-quality goods and services.
• C)Production managers are more concerned with satisfying consumer wants than with satisfying government's orders.
• D)Exports tend to exceed imports.

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Definitions:

Religious Practice

A set of rituals and beliefs followed by individuals in accordance with their faith.

Scientology

A religious movement founded by L. Ron Hubbard, focusing on spiritual rehabilitation through a process known as auditing.

Status as a Religion

The acknowledgment or classification of a belief system as a religion, typically involving recognition of doctrines, rituals, and the moral code within a supportive community.

Market Theory

A set of principles that attempts to explain the functioning and dynamics of the marketplace, including the interactions between buyers, sellers, and prices.