Market Prices Are

question 45

Multiple Choice

Market prices are

• A) conveyors of information.
• B) determined by the interactions of supply and demand in voluntary exchange.
• C) indicators of the relative scarcity of resources and products.
• D) all of the above.

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Definitions:

Autarky

An economic system characterized by self-sufficiency, where a region or country aims to produce all it needs without engaging in international trade.

Trade

The exchange of goods or services between parties, which can be within an economy or between economies, allowing for the specialization and efficiency gains.

Volume of Trade

The total quantity of shares or contracts traded for a specific security or market during a specified period.

Import

The act of bringing goods or services into one country from another country for sale or use.