Consumer Sovereignty and "Dollar Votes" Guide the Market System in Dealing

question 100

Multiple Choice

Consumer sovereignty and "dollar votes" guide the market system in dealing with which fundamental economic question?

• A) Which output will be produced?
• B) How is the output to be produced?
• C) How can the system accommodate change?
• D) Who is to receive the output?

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two quantitative variables.

Relationship

A connection, association, or interaction between two or more entities, persons, or concepts.

Correlation Coefficients

Statistical measures that describe the type and strength of the relationship between two variables.

Relationship

A link or relationship that exists among two or more people, organizations, or things.