10. all of the following are important steps in moving from a centrally planned economy to a market economy…
10. all of the following are important steps in moving from a centrally planned economy to a market economy except revising the legal system changing the work ethic setting up price controls privatization
Answer
Brief Explanations:
In transitioning from a centrally - planned to a market economy, revising the legal system to support market activities, changing work ethic to adapt to market incentives, and privatization of state - owned assets are common steps. However, setting up price controls is a characteristic of a centrally - planned economy, not a step in moving towards a market economy where prices are determined by supply and demand.
Answer:
C. setting up price controls