The Market System Communicates Changes in Supply and Demand and Elicits

question 58

Multiple Choice

The market system communicates changes in supply and demand and elicits appropriate responses from businesses and resource suppliers.This is known as the:

• A)rationing function of prices.
• B)guiding function of prices.
• C)monetary function of prices.
• D)circular flow of income.

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Definitions:

Retinal Fixation

The ability of the eyes to maintain visual focus on a single point or object, crucial for a stable and clear visual perception.

Auditory Nerve

A cranial nerve that transmits auditory information from the inner ear to the brain.

Anterior Uveitis

Inflammation of the uvea, specifically the iris and ciliary body in the front part of the eye, which can cause redness, pain, light sensitivity, and blurred vision.

Swimmer's Ear

An infection of the outer ear canal, often caused by water remaining in the ear after swimming, leading to inflammation and infection.