Multiple Choice
In a market system, ____ distributes goods among consumers in accord with their tastes and preferences, using voluntary exchange to determine who gets what.
A) a price system
B) a regulatory framework
C) a democratic government
D) a closed system
Correct Answer:

Verified
Correct Answer:
Verified
Q10: Efficiency is defined as minimizing waste.
Q11: Because of scarcity, every economic decision involves<br>A)a
Q12: If a farmer's opportunity cost of producing
Q13: If an economy is producing inefficiently, it
Q14: Which of the following is likely to
Q16: Goods are distributed among people by means
Q17: Economics is generally concerned with<br>A)the operation of
Q18: What mechanism assures that firms produce outputs
Q19: If a market system is functioning well,
Q20: Economists use the term capital to describe