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Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer?.

Solutions for Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA CPT. Download more important topics, notes, lectures and mock test series for CA CPT Exam by signing up for free.

Here you can find the meaning of Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following is a strength of a command-based economic system?a)It is possible for goods to be allocated based on need rather than based on willingness and ability to payb)Producers have strong incentives to innovate because successful innovators are rewarded with higher profitc)Consumers can transmit their preference for product quality and variety by way of their "dollar votes" cast in the marketplaced)Since price is freely set based on supply and demand, there are few shortages or surplusesCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA CPT tests.