Which of the following is characteristic of a country with a planned economic system?
A) The economy relies chiefly on market forces to allocate goods and resources and to determine prices.
B) The economic system combines private and state enterprises with limited intervention from the government.
C) The economy subscribes to capitalistic competition, where private parties own and operate the majority of businesses.
D) The economic system is primarily capitalistic but there is some degree of government ownership of the means of production.
E) The economy is largely controlled by the government and freedom of choice is limited in order to accomplish government goals.

Question

Which of the following is characteristic of a country with a planned economic system?
A) The economy relies chiefly on market forces to allocate goods and resources and to determine prices.
B) The economic system combines private and state enterprises with limited intervention from the government.
C) The economy subscribes to capitalistic competition, where private parties own and operate the majority of businesses.
D) The economic system is primarily capitalistic but there is some degree of government ownership of the means of production.
E) The economy is largely controlled by the government and freedom of choice is limited in order to accomplish government goals.

Quizplus · Accepted Answer

A)In a planned system, governments largely control the allocation of resources and limit freedom of choice in order to accomplish government goals. Because social equality is a major goal of planned systems, private enterprise and the pursuit of private gain are generally regarded as wasteful and exploitive.
B)In a planned system, governments largely control the allocation of resources and limit freedom of choice in order to accomplish government goals. Because social equality is a major goal of planned systems, private enterprise and the pursuit of private gain are generally regarded as wasteful and exploitive.
C)In a planned system, governments largely control the allocation of resources and limit freedom of choice in order to accomplish government goals. Because social equality is a major goal of planned systems, private enterprise and the pursuit of private gain are generally regarded as wasteful and exploitive.
D)In a planned system, governments largely control the allocation of resources and limit freedom of choice in order to accomplish government goals. Because social equality is a major goal of planned systems, private enterprise and the pursuit of private gain are generally regarded as wasteful and exploitive.
E)In a planned system, governments largely control the allocation of resources and limit freedom of choice in order to accomplish government goals. Because social equality is a major goal of planned systems, private enterprise and the pursuit of private gain are generally regarded as wasteful and exploitive.

Which of the Following Is Characteristic of a Country with a Planned