The Guiding Function of Prices Tends to Keep Resources Flowing

question 135

True/False

The guiding function of prices tends to keep resources flowing toward their most highly valued uses.

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Definitions:

Seven Years' War

A worldwide war that took place from 1756 to 1763, engaged the majority of the era's major powers, and impacted regions including Europe, North America, Central America, the West African coast, India, and the Philippines.

First World War

A global conflict that lasted from 1914 to 1918, pitting the Allied Powers against the Central Powers and marking one of the deadliest conflicts in history.

Causes And Consequences

The reasons behind certain actions or events and the effects that follow from those actions or events.

Discrete Probability

The probability of an outcome occurring when the set of possible outcomes is countable and each outcome has a distinct probability.