It Is True That the Distribution Process Carried Out by the Price

question 119

Multiple Choice

It is true that the distribution process carried out by the price system

• A)accomplishes the task more efficiently than central planners would.
• B)favors the rich.
• C)is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences.
• D)All of these responses are true.

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Definitions:

Duty of Care

A legal obligation requiring individuals to adhere to a standard of reasonable care while performing acts that could foreseeably harm others.

Caustic Substance

A chemical material capable of burning, corroding, or destroying living tissues.

Duty of Care

A legal obligation requiring individuals to exercise a reasonable level of care and caution to avoid harm to others.

Negligence

Failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability.