In Most Societies, Who Allocates Resources

question 169

Multiple Choice

In most societies, who allocates resources?

• A) a single central planner
• B) those who own the resources
• C) those firms that use resources to provide goods and services
• D) the combined actions of millions of households and firms

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Definitions:

Adds Value

Enhancements or modifications made to a product, service, or process that increase its worth or usefulness to consumers or users.

Guerrilla Marketing

An innovative, unconventional, and low-cost marketing strategy aimed at obtaining maximum exposure for a product.

Unconventional Means

Methods or approaches that are out of the ordinary, often innovative or non-traditional, used to achieve a specific goal.

Idea Impression

The initial perception or mental image that a person has about an idea, which can influence how they think about its potential success or usefulness.