The Efficiency of Market Organization Is Dependent on Which of the Following

question 358

Multiple Choice

The efficiency of market organization is dependent on which of the following?

• A) well-regulated supply and demand
• B) the availability of low cost resources and high tariffs on foreign imports
• C) competitive markets and well-defined and enforced private property rights
• D) Government establishment of the invisible hand principle and the inelasticity of certain goods.

---

Definitions:

Significant Figures

The number of digits in a number that are considered to contribute to the accuracy of that number, reflecting the precision of a measurement.

Significant Figures

The digits in a number that are known with certainty plus the first digit that is uncertain, relevant in scientific measurements.

Length Measurements

The determination of the extent of something from end to end, typically in units such as meters, inches, or miles.

Significant Figures

The number of digits in a value, counting from the first non-zero number, that are used to express the precision of measurements and calculations.