In a Market System, the Distribution of Goods and Services

question 59

Multiple Choice

In a market system, the distribution of goods and services among consumers is largely determined by

• A) the willingness and ability of consumers to pay the prices.
• B) whoever needs the goods and services the most.
• C) whoever has the closest connection to firms and the government.
• D) a random factor that is almost impossible to predict.

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Definitions:

Economy

The system by which goods and services are produced, distributed, and consumed in a society.

Production

The process of creating goods or services through the combination of labor, materials, and technology.

Distribution

Involves the process of making goods, services, or resources available to consumers or beneficiaries.

Agricultural Economies

Economic systems primarily based on the production, distribution, and consumption of agricultural goods and services, often characterized by a reliance on farming and livestock.