Multiple Choice
An unplanned economy operating under laissez-faire
A) allocates resources by market supply and demand.
B) cannot respond to basic questions about production and distribution.
C) shows breakdowns with frequent surpluses and shortages.
D) allocates goods and services under government subsidy.
Correct Answer:

Verified
Correct Answer:
Verified
Q48: Before a market allocation of goods on
Q49: The task of deciding which consumer gets
Q50: Central planning is an efficient method for
Q51: Figure 11-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-1
Q52: A factory in a centrally planned economy
Q54: An efficient distribution of goods requires that<br>A)everyone
Q55: In a free market, a given unit
Q56: Scarcity is illustrated graphically by a production
Q57: For an efficient outcome, MR must exceed
Q58: An example of peak pricing is charging<br>A)more