Examlex
Who is the person in charge of operating the systems used for gathering, organizing, and distributing information?
Guiding Function
The role of prices in directing the allocation of resources and goods in an economy, ensuring resources are used where they are most valued.
Dollar Votes
The concept that consumers show their preferences and influence the market through where they choose to spend their money.
Consumer Sovereignty
The concept that consumers' preferences and decisions dictate the production of goods and services in an economy, emphasizing the power of consumer choice.
Market Economy
An economic system where supply and demand from private enterprise make all the economic decisions.
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