Money Prices Are

question 79

Multiple Choice

Money prices are:

• A) essential to a coordinating mechanism.
• B) not essential to a coordinating mechanism.
• C) always the best way to solve economic problems.
• D) unfair ways of coordinating individual actions.

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Definitions:

Comparative Advantage

In economics, comparative advantage refers to the ability of a country or individual to produce a particular good or service at a lower opportunity cost than its competitors.

Taxi Parts

Components or spares used in the maintenance and repair of taxicabs.

Oranges

A citrus fruit that is a common source of vitamin C, available in several varieties and used in both food and beverages.

Normative Statement

A statement that expresses a value judgment or opinion, indicating what ought to be rather than what is empirically observable.