Multiple Choice
The market mechanism
A) Is not a very efficient means of communicating consumer demand to the producers of goods and services.
B) Works through central planning by government.
C) Eliminates market failures created by government.
D) Works because prices serve as a means of communication between consumers and producers.
Correct Answer:
Verified
Correct Answer:
Verified
Q142: Which of the following is an assumption
Q143: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" In Figure 1.9
Q144: In terms of the production possibilities curve,inefficiency
Q145: Explain the concept of inefficiency in terms
Q146: Output combinations that lie inside the production
Q147: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" A movement from
Q148: Which of the following may be used
Q150: According to the law of increasing opportunity
Q151: Which economist argued that free markets unleashed
Q152: Table 1.2 shows the hypothetical trade-off