A planned economy is an economy where
A) centralized decisions are made about what is produced, how, by whom, and who gets what.
B) decentralized decisions are made about what is produced, how, by whom, and who gets what.
C) the government does not have any role in decision making related to products, prices, and markets.
D) a surplus exists for all goods and services.
Correct Answer:
Verified
Q1: Which of the following five scenarios illustrate
Q2: A market is a
A)a place where governments
Q4: A market economy is an economy where
A)the
Q5: The difference between a centralized economy and
Q6: A seller at a farmer's market wants
Q7: You buy two loaves of bread at
Q8: Equilibrium is the
A)point at which there is
Q9: An equilibrium in a market occurs:
A)at the
Q10: An equilibrium price is a price where
Q11: An equilibrium price is:
A)the price that prevails
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