Under Laissez-Faire, the Allocation of Resources Among Different Products Depends

question 65

Multiple Choice

Under laissez-faire, the allocation of resources among different products depends on

• A)consumer preferences.
• B)production costs.
• C)Both a and b are correct.
• D)Neither a nor b is correct.

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Metropolitan Areas

Large urban areas that include a central city and its surrounding suburbs, characterized by significant population density and economic activity.

East Coast

Refers to the easternmost region of the United States, comprising states along the Atlantic Ocean.

Sampling Frame

A collection or record used as the source for selecting a statistical sample for research or analysis.

Provincial Election

A democratic process in which residents of a province vote to elect representatives to the provincial legislature or government.