Asked by

Mylynn Collins
on Nov 25, 2024

verifed

Verified

One basic problem faced by central planners, but hardly present in a market system, has to do with

A) determining the production goals or targets in a factory.
B) having limited resources and trying to match them with unlimited wants.
C) coordinating production in various industries so that bottlenecks do not develop.
D) providing financial resources for increasing the real flows of products in the economy.

Central Planners

Individuals or groups responsible for coordinating economic activities and decisions in a centrally planned economy.

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices are determined in a free price system.

Production Goals

Targets set by a company regarding the quantity and quality of products to be produced within a certain timeframe.

  • Comprehend the principle of the "invisible hand" and its implications on economic efficiency and public interest.
verifed

Verified Answer

DF
Dineesha FernandoNov 28, 2024
Final Answer:
Get Full Answer