"The 'Dollar Votes' of Consumers Ultimately Determine the Composition of Output

question 102

Multiple Choice

"The 'dollar votes' of consumers ultimately determine the composition of output and the allocation of resources in a market economy." This statement best describes the concept of:

• A)derived demand.
• B)external costs and benefits.
• C)consumer sovereignty.
• D)the invisible hand.

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Definitions:

Resources Exchange Web

A conceptual framework for understanding the complex interactions and exchanges of materials and energy between organisms within an ecosystem.

Heat Waste

Unwanted or unusable heat energy produced by industrial processes or energy production, which is often released into the environment.

Power Plants

Industrial facilities where electricity is generated from primary energy sources, such as coal, natural gas, nuclear, solar, or wind energy, through various technological processes.

Isolated

Being in a state of separation from others; not connected to, interacting with, or influenced by others or by external factors.