The Market System's Answer to the Fundamental Question "How Will

question 112

Multiple Choice

The market system's answer to the fundamental question "How will the goods and services be produced?" is essentially

• A) "With as much machinery as possible."
• B) "Using the latest technology."
• C) "By exploiting labor."
• D) "In ways that minimize the cost per unit of output."

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Definitions:

Percent More

The increase in a quantity measured as a fraction of 100.

Reduced By

To decrease in amount or number by a specified factor or quantity.

First Year

The initial 12-month period in a particular context, such as employment, schooling, or living in a new place.

Increased By

A phrase indicating that a quantity has been added to, usually in the context of arithmetic operations or describing growth in a financial metric.