Which of the Following Statements About Markets and Prices Is

question 12

Multiple Choice

Which of the following statements about markets and prices is correct?

• A) In a market system, buyers and sellers must be in face-to-face contact with each other.
• B) Prices affect the distribution of goods in a market system, but not the allocation of resources.
• C) In a market system, prices serve to ration goods and services to consumers.
• D) The operation of a market system has little, if any, effect on the distribution of income in the economy.

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Definitions:

Coconut Oil

A plant-based oil extracted from the meat of coconuts, used in cooking, skincare, and health products, noted for its high saturated fat content.

Mediterranean Diet

A dietary pattern inspired by the traditional eating habits of people from the Mediterranean region, known for its emphasis on fruits, vegetables, whole grains, olive oil, and fish.

Lactose Intolerance

A condition in which the body cannot easily digest lactose, a type of sugar found in milk and dairy products.

Food Allergy

A negative health impact that results consistently from a particular immune reaction when exposed to a certain food.