Many Persons Object to the Results of the Competitive Market

question 99

Multiple Choice

Many persons object to the results of the competitive market system because

• A)it takes too much energy to coordinate activities.
• B)efficient outcomes may not be compatible with their ideas of a fair distribution.
• C)a few people can control all economic activity.
• D)it fosters high rents and low beef prices.

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Definitions:

Accounts Receivable

Receivables from clients to a business for goods or services that have been dispatched but not settled.

Sales Salaries Payable

An account representing the salaries owed to sales staff that have been incurred but not yet paid.

Cash Payments

Refers to transactions where cash is paid out by the business, such as to suppliers, employees, or for other expenses.

Current Year

The ongoing year or the period of time that is presently being accounted for in financial or calendar terms.