The Task of Deciding Which Consumer Gets Each of the Goods

question 49

Multiple Choice

The task of deciding which consumer gets each of the goods produced in a free-market economy is solved by

• A)the price system.
• B)the industries that produce the goods.
• C)the central planners.
• D)citizens with political power.

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Definitions:

Customer Availability

Describes the extent to which customers can access or purchase goods and services at a given time.

Horizontal Merger

A type of business consolidation that occurs between firms that operate in the same industry.

Vertical Merger

A combination of two or more companies at different stages of production in the same industry.

Conglomerate Company

A large corporation that owns a diversified group of other companies across various industries, with no single business dominating its portfolio.