An advantage of classifying economies according to the degree to which they depend on markets or planning is that it allows us to:
A) focus on how societies deal with the economic decisions caused by scarcity.
B) map how a country's approach to making the basic economic choices changes over time.
C) sort economies according to the degree to which they depend on individual or collective decision making when dealing with the basic economic choices.
D) all of the above.
Correct Answer:
Verified
Q98: When centralized planning creates a problem for
Q99: Planning failure occurs when:
A) government planners pursue
Q100: A weakness of a planned economy is:
A)
Q101: In a planned economy:
A) the wants and
Q102: A mixed economy is one:
A) that depends
Q104: The world's economies:
A) are all either capitalist
Q105: Which of the following countries would rely
Q106: Which of the following countries would rely
Q107: On the basis of the following continuum,
Q108: Beginning in the mid-1980s, the Soviet Union,
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