Multiple Choice
In a market system, decisions about how to allocate resources are made:
A) by central planning boards in each industry.
B) by a lottery system.
C) by individuals and firms interacting in markets coordinated by market prices.
D) by large conglomerates working cooperatively with the government.
Correct Answer:
Verified
Correct Answer:
Verified
Q190: Gallons of milk at a local grocery
Q191: Which of the following do not contribute
Q192: Sustained economic growth occurs when workers' productivity
Q193: When government policies change it can:<br>A)alter incentives<br>B)alter
Q194: Opportunity cost:<br>A)Always refers to the dollar price
Q196: Ted has decided to buy a burger
Q197: Suppose you are managing a 100 room
Q198: In order to not face tradeoffs, scarcity
Q199: An economy's resources:<br>A)include land, labor, capital, and
Q200: The opportunity cost of attending a concert