In a Market Economy, Decisions Are Guided by Individual Self-Interest

question 58

Multiple Choice

In a market economy, decisions are guided by individual self-interest. What impact does this have?

• A) There is still the ability to achieve desirable economic well-being for society as a whole.
• B) There is a strong need for government intervention in the market.
• C) There is less efficiency in market economies than in command economies.
• D) There is more need for a strong legal system to control individual greed.

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Definitions:

Minorities

Demographic groups within a society that are smaller in number and often have different ethnic, racial, religious, or cultural identities than the majority.

Biases

Inclinations or prejudices for or against one person or group, especially in a way considered to be unfair.

U.S. Bureau of Labor Statistics

A federal agency that collects and analyzes essential economic information related to labor market activity, working conditions, and price changes in the economy.

American Companies

refer to business enterprises based in the United States, known for their influence on the global economy and innovation in various sectors.