One major element of the command system is:
A. An emphasis on private ownership of resources
B. Individual decentralized decision-making
C. Reliance on supply-and-demand forces to guide economic activity
D. Central planning conducted by the government
Answer: D
You might also like to view...
What is the Fed's monetary policy instrument?
What will be an ideal response?
The main source of conflict between employers and their organized workers is over the
(a) disparities in the wages and benefits between organized and unorganized labor. (b) disparities in the wages and benefits between employers and organized workers. (c) proceeds of selling goods and services made jointly between hired labor and business owners. (d) working conditions.
The most important factor in determining the long-run profit potential in monopolistic competition is
A) free entry and exit. B) the elasticity of the market demand curve. C) the elasticity of the firm's demand curve. D) the reaction of rival firms to a change in price.
A typical American family sends about _____% of its budget on services
a. 20% b. 32% c. 66% d. 70%