In a Socialist Economy, the Key Industries Are Owned and Controlled

question 128

True/False

In a socialist economy, the key industries are owned and controlled by the government.

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Definitions:

Positive Organizational Behavior

A study within organizational psychology focusing on the application of positively oriented human strengths and psychological capacities to improve workplace performance.

High-Involvement Management

The way managers empower employees to make decisions, provide them with extensive training and the opportunities to increase their knowledge base, share important information, and provide incentive compensation.

Competitive Advantage

This is the attribute that allows an organization to outperform its rivals, achieved through offering greater value to consumers or operating more efficiently.

Human Capital

The total set of skills, understanding, and virtual assets owned by individuals that have the potential to create economic profits for the individuals, the companies they work for, or their local community.