Multiple Choice
The major "success indicator" for business managers in command economies like the Soviet Union and China in the past was
A) the quantity or volume of production.
B) product quality and variety.
C) the amount of profits a producer makes.
D) morale of workers in a firm.
Correct Answer:
Verified
Correct Answer:
Verified
Q44: In a market system, a consumer's ability
Q45: Discuss the benefits of restricting business risk
Q46: Government bailouts of failing businesses, like banks
Q47: An important aspect of the market system
Q48: Explain the importance of self-interest in the
Q50: The "invisible hand" concept refers to the<br>A)
Q51: The presence of market failures implies that<br>A)
Q52: Even if prices are fixed and competition
Q53: Barter<br>A) is the major means of exchange
Q54: What role does freedom play in capitalism?