BuyFind

Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040
BuyFind

Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040

Solutions

Chapter
Section
Chapter P8, Problem 6KC
Textbook Problem

Key Concept: Command economy

Which of the following statements best describes the role played by prices in a command economy such as the former Soviet Union?

  1. a. Prices were used to allocate resources.
  2. b. Prices played the same role as in a market economy.
  3. c. Prices and queuing were used to ration final goods and services.
  4. d. None of the statements are true.

Expert Solution

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Solution

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions
Explain the cyclical budget deficit.

Economics (MindTap Course List)

What are demand deposits and why should they be included in the stock of money?

Brief Principles of Macroeconomics (MindTap Course List)

What is inflation and what causes it?

Essentials of Economics (MindTap Course List)

FINANCIAL STATEMENTS The Davidson Corporation's balance sheet and income statement are provided here. Davidson ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Briefly explain what is meant by the term efficiency continuum.

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Identify the three types of salespersons.

Foundations of Business (MindTap Course List)