Prices Provide Little Information About Where Resources Should Best Be

question 53

True/False

Prices provide little information about where resources should best be allocated in an economy.

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Definitions:

Conscious Awareness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.

Iconic Memory

A momentary sensory memory of visual stimuli; a photographic or picture-image memory lasting no more than a few tenths of a second.

Encoding

The process of converting information into a form that can be stored in memory.

Persistence

The quality of continuing steadfastly or firmly in a course of action in spite of difficulty or lack of success.