For Private Goods Allocated in Markets

question 2

Multiple Choice

For private goods allocated in markets,

• A)prices guide the decisions of buyers and sellers and these decisions lead to an efficient allocation of resources.
• B)prices guide the decisions of buyers and sellers and these decisions lead to an inefficient allocation of resources.
• C)the government guides the decisions of buyers and sellers and these decisions lead to an efficient allocation of resources.
• D)the government guides the decisions of buyers and sellers and these decisions lead to an inefficient allocation of resources.

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Definitions:

Welfare Reform

Changes or overhauls to the national system of aid provided to people in economic need, intended to encourage employment and reduce government dependency.

Print Media

Forms of media that disseminate information through printed matter, such as books, newspapers, and magazines.

Stereotyped

Oversimplified and fixed generalizations about a group of people or things.

Physical Skills

Abilities or coordination possessed by an individual, which involve the use of physical strength, agility, or motor coordination.