Command economies provide a more favorable environment for innovation and entrepreneurs than market economies.
Answer the following statement true (T) or false (F)
False
In a command economy, state-owned enterprises have little incentive to control costs and be efficient, because they cannot go out of business. Also, the abolition of private ownership means there is no incentive for individuals to look for better ways to serve consumer needs; hence, dynamism and innovation are absent from command economies.
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The supply of foreign currency may be
a. upward-sloping. b. backward-sloping. c. vertical. d. shifting rightward.
Strategic alliances are arrangements in which two firms join forces and form a cooperative partnership. Discuss the potential advantages of strategic alliances.
What will be an ideal response?
The greatest degree of control for committed fixed costs is exerted
a. in the post-investment audit. b. during the life of the investment. c. prior to acquisition. d. by equipment operators.
Sensations are both biochemical and neurological in nature.
Answer the following statement true (T) or false (F)