Communist countries worked under the premise that
A) people, when left on their own without government intervention, will find the best use of available resources
B) central planners were in the best position to determine the allocation of scarce resources in the economy.
C) households and firms, guided by an "invisible hand," could achieve the most efficient allocation of scarce resources.
D) allowing the market forces of supply and demand to operate with no government intervention would achieve the most efficient allocation of scarce resources.
Correct Answer:
Verified
Q165: The "invisible hands" ability to coordinate the
Q166: Prior to the collapse of communism, communist
Q167: Nevaeh decides to spend four hours playing
Q168: Which of the following is not an
Q169: Which is the most accurate statement about
Q171: The basic principles of economics suggest that
A)markets
Q172: The "invisible hand" refers to
A)how central planners
Q173: Central planning refers to
A)markets guiding economic activity.Today
Q174: Which of the following statements exemplifies a
Q175: Which of the following industries has a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents