Which of the Following Is TRUE

question 421

Multiple Choice

Which of the following is TRUE?

• A) Lotteries work best when a resource can serve just one user at a time in a sequence.
• B) A market price always allocates resources better than a command system.
• C) In the United States, how tax dollars are allocated among competing uses is an example of how resources are allocated by majority rule.
• D) Force has never played an important role in allocating scarce resources.

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Definitions:

Manufacturing Facility

A physical location equipped for the production of goods, often involving machinery and labor.

Units Produced

The total quantity of items manufactured by a company within a specific period, indicating production volume.

Distorted Product Cost

Occurs when the assigned costs of a product do not accurately reflect the actual resources consumed by the product.

Poor Decisions

Choices made with lack of judgment or information that result in unfavorable outcomes.