Solved

Which of the Following Is an Essential Feature of Any

Question 78

Multiple Choice

Which of the following is an essential feature of any economic system?


A) absolute advantage
B) the profit motive for producers
C) a voting procedure for choosing leaders
D) prices determine resource allocation
E) scarce resources

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q73: Figure 2-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3972/.jpg" alt="Figure 2-1

Q74: An economy with a government planning commission

Q75: One way to increase economic efficiency in

Q76: Jenni can change a car's oil in

Q77: If Japan could produce more steel in

Q79: The world's total output will be greater

Q80: Production is productively efficient when<br>A) the maximum

Q81: The law of increasing opportunity cost is

Q82: When all resources used in production are

Q83: If Mary has an absolute advantage over