Scholars often use the experience of the Soviet Union in the twentieth century as an example of which problem of central planning
a. increasing class inequities.
b. the inability to direct economic resources to address pressing national needs.
c. production of consumer goods privileged at the expense of heavy industry protection.
d. lack of economic efficiency.
e. the ups and downs of the business cycle.
Question 2
Socialism is
a. a system in which the government does not engage in economic planning nor oversee an extensive welfare state, rather, it owns certain individual enterprises, which are typically in lucrative industries such as energy.
b. a system in which the government intervenes in the economy to guide economic activities in an effort to foster economic growth.
c. a set of government programs that provide significant welfare benefits and services.
d. the economic approach that emphasizes government ownership of the means of production and government control of economic decisions such as the supply and prices of particular products.
e. a system that allows significant government involvement in the economy in order to protect domestic economic interests.
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