The Market System

question 209

Multiple Choice

The market system

• A) produces considerable inefficiency in the use of scarce resources.
• B) effectively harnesses the incentives of workers and entrepreneurs.
• C) is not consistent with freedom of choice in the long run.
• D) has slowly lost ground to emerging command systems.

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Definitions:

Motives

Internal driving forces that compel individuals to act in a certain way or pursue particular goals.

Cognitive Therapy

Therapy in which the focus is on helping clients recognize distortions in their thinking and replacing distorted, unrealistic beliefs with more realistic, helpful thoughts.

Distorted Thinking

Patterns of irrational or inaccurate thoughts that are believed to perpetuate psychological disorders.

Tardive Dyskinesia

A neurological disorder characterized by involuntary, repetitive body movements, often resulting from long-term use of antipsychotic medications.