It Is True That the Distribution Process Carried Out by the Price

question 119

Multiple Choice

It is true that the distribution process carried out by the price system

• A)accomplishes the task more efficiently than central planners would.
• B)favors the rich.
• C)is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences.
• D)All of these responses are true.

---

Definitions:

Licenses

Official permissions granted by authorities to individuals or organizations to engage in a particular activity or business.

Sociological Imagination

A quality of the mind that allows us to understand the relationship between our individual circumstances and larger social forces.

Deprivation Amplification

When our individual disease risks (based on our heredity and physiology) are amplified by social factors.

C. Wright Mills

An American sociologist best known for his theories on the power elite and the sociological imagination, bridging the gap between individual experiences and broader social structures.