Author Question: According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. ... (Read 114 times)

kfurse · **on:** Jun 29, 2018

According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by society as a whole. According to the economic way of thinking,

A) their economic problem would be solved.
B) resources would finally be used efficiently, because the profit motive would be destroyed.
C) people would use Yugoslavia's resources wastefully because they themselves wouldn't have to pay the opportunity cost.
D) the central planners would know how to calculate the true values and costs of resource use.

Question 2

According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by society as a whole.

If the constitution were fully enforced, resources would tend to be A) used for the common good.
B) used without greed and materialistic interests.
C) free from the constraints of scarcity.
D) underpriced.