Multiple Choice
A characteristic of centrally planned economies is that:
A) The price is relatively unimportant in allocating resources
B) Output reflects the pattern of consumer spending
C) Entrepreneurship is quite prevalent and highly rewarded
D) There are many incentives for innovation and hard work
Correct Answer:
Verified
Correct Answer:
Verified
Q27: One of the most important economic resources
Q93: If a nation restricts trade with other
Q94: The following table illustrates alternative production techniques
Q95: Suppose a firm can produce 70 units
Q96: The idea that the desires of resource
Q97: In the circular flow diagram, firms get
Q100: The development of the digital video and
Q101: McDonald's introduced the "Big Mac" in 1968
Q103: In the circular flow model of the
Q122: The fundamental economic question regarding the distribution