When the Invisible Hand Is at Work

question 26

Multiple Choice

When the invisible hand is at work,

• A)the price system will sometimes give incorrect cost signals to consumers.
• B)the price system will allocate resources based only on consumer need.
• C)all prices will be set equal to marginal costs.
• D)there will be some shortages and surpluses that cannot be avoided.

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Definitions:

Cleavage

Cleavage in geology refers to the tendency of minerals to split along specific planes where the bonds are weakest, resulting in smooth, flat surfaces.

Noble Gases

A group of chemical elements with very low reactivity, including helium, neon, argon, krypton, xenon, and radon.

Periodic Table

A tabular arrangement of chemical elements, organized on the basis of their atomic numbers, electron configurations, and recurring chemical properties.

Rock-forming Minerals

Minerals that make up a significant part of the Earth’s crust, playing a key role in the formation of rocks.