The Price System Takes into Account Consumer Preferences in the Distribution

question 239

True/False

The price system takes into account consumer preferences in the distribution of goods and services.

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Definitions:

Status

The relative social, professional, or other standing of someone or something within a social hierarchy.

Proletariat

Refers to the class of wage-earners, especially industrial workers, who do not own the means of production and whose only means of subsistence is to sell their labor.

Party

A social gathering of invited guests, typically involving eating, drinking, and entertainment or a political organization competing for power.

Causal Thinking

involves understanding the cause-effect relationship between two events or situations, believing one event is the result of the occurrence of the other event.