Multiple Choice
Which concept explains how individual consumers in market economies determine what is to be produced?
A) competition
B) consumer sovereignty
C) decentralized decision-making
D) free enterprise
Correct Answer:
Verified
Correct Answer:
Verified
Q39: Exhibit 3-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-4
Q40: The opportunity cost of a particular good
Q41: Any output combination outside the production possibilities
Q42: Exhibit 3-13 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-13
Q43: Exhibit 3-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-4
Q45: Which of the following scenarios would cause
Q46: In a market economy, prices help determine
Q47: Exhibit 3-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-8
Q48: Which of the following is considered to
Q49: A market economy answers the question "how"