In an Economy in Which Decisions Are Guided by Prices

question 21

Multiple Choice

In an economy in which decisions are guided by prices and individual self-interest,there is

• A)the potential to achieve efficiency in production.
• B)a strong need for government intervention in the market.
• C)less efficiency than would be observed in a centrally-planned economy.
• D)more need for a strong legal system to control individual greed than would be needed in a centrally-planned economy.

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Definitions:

Endometrium

The mucous membrane lining the interior of the uterus, which thickens during the menstrual cycle to prepare for potential pregnancy.

Uterus

The uterus is a significant female reproductive organ in many mammals, including humans, where it serves as the site for fetal development during pregnancy.

Interstitial Cells

Cells located in the spaces between other cells in a tissue or organ, often involved in hormone production.

Testes

The male reproductive organs that produce sperm and hormones, primarily testosterone.