Which of the following statements is TRUE?
A) In a planned economy, goods and services are always produced using least cost production techniques.
B) In a planned economy, the basic economic decisions are the result of interaction between buyers and sellers.
C) In a planned economy, how goods and services are produced, is determined largely by the resources central planners make available to producers.
D) In a planned economy, individuals and centralized government authorities work together to answer the basic economic questions.
Correct Answer:
Verified
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