When a Market Price Allocates a Scarce Resource

question 56

Multiple Choice

When a market price allocates a scarce resource,

• A)everyone in the economy can use the resource.
• B)only those who show interest can use the resource.
• C)willingness-to-pay is not an issue.
• D)ability to pay for the resource is less important than willingness-to-pay.
• E)only those who are willing and able to pay get the resource.

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Definitions:

Query Datasheet

A visual display of the data returned by a database query, resembling a table or spreadsheet.

Blank Query Wizard

A tool in database software that guides users through the process of creating a new query without pre-filled criteria, allowing for custom query creation from scratch.

Choose Fields Wizard

A tool or assistant in software that guides users through the process of selecting which fields to include in a dataset or view.

Desktop Database

A database system designed to run on personal computers, rather than on a server or cloud-based environment.