In a command (planned) economy ?

Related Mcqs:

Which of the following is not one of the basic economic s ?

A. What to produce B. Who to produce for C. How to produce D. How to maximize economic growth...

The circular flow of goods and incomes shows the relationship between?

A. Wages and salaries. B. income and money C. goods and services. firms and households...

Productivity can be increased by ?

A. improving the education of workers B. raising union wages. C. raising minimum wages. D. restricting trade with foreign countries....

Unemployment means that ?

A. there is excess demand in the labour market B. there are some people who will not work at the going wage rate. C. people are not willing to work at the going wage rate. D. at the going wage rate, there are people who want to work but cannot find work....

Which of the following statements is true about a market economy ?

A. With a large enough computer, central planners could guide production more efficiently than markets. B. Market participants act as if guided by an invisible hand to produce outcomes that maximize social welfare C. The strength of a market system is that it tends to distribute resources evenly across consumers. D. Taxes help prices communicate … Which of the following statements is true about a market economy ?Read More...