Under Laissez-Faire, the Allocation of Scarce Resources Among the Different

question 110

Multiple Choice

Under laissez-faire, the allocation of scarce resources among the different industries

• A)is possible only with government tax and subsidy policies.
• B)is accomplished by the price system.
• C)requires a considerable amount of central planning.
• D)is the result of consumer planning.

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Definitions:

Capsule

An outer covering or layer, often referring to the fibrous covering over certain organs or structures.

Red Pulp

The portion of the spleen involved in filtering blood and removing old or damaged red blood cells.

Lymphocytes

A type of white blood cell that is part of the immune system, involved in protecting the body against both infectious disease and foreign invaders.

Phagocytes

Cells that protect the body by ingesting harmful foreign particles, bacteria, and dead or dying cells.