Multiple Choice
The market system's answer to the fundamental question "How will the goods and services be produced?" is essentially
A) "With as much machinery as possible."
B) "Using the latest technology."
C) "By exploiting labor."
D) "In ways that minimize the cost per unit of output."
Correct Answer:
Verified
Correct Answer:
Verified
Q107: Suppose a ?rm can produce 70
Q108: Command systems are also known as<br>A) market
Q109: Which of the following best illustrates the
Q110: In a competitive market economy, firms and
Q111: "Consumer sovereignty" means that<br>A) buyers can dictate
Q113: If people tried to produce most of
Q114: If a nation restricts trade with other
Q115: In the circular flow model of the
Q116: (Last Word) Which of the following helps
Q117: Which of the following does not illustrate