In a Market System, the Distribution of Goods and Services

question 155

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:

Cognitive Judgments

The mental process of evaluating, making decisions, or forming opinions based on thought and reasoning.

Group Consensus

The collective agreement or decision made by all members of a group, often achieved through discussion and compromise.

Heinz Dilemma

A moral dilemma experiment designed by Lawrence Kohlberg to assess the moral reasoning stage of an individual, involving a man stealing medicine to save his wife's life.

Moral Decisions

Choices made by individuals that are evaluated based on principles of right and wrong or ethical considerations.