Which of the Following Observations Is True

question 248

Multiple Choice

Which of the following observations is true?

• A)Free markets will achieve all of society's goals.
• B)The ability to buy goods is divided equally among consumers.
• C)The market deals with efficiency in production through the profit motive.
• D)The market system encourages firms to use inputs wastefully.

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Definitions:

Lottery Office

A place or establishment where lottery tickets are sold and winning tickets are redeemed.

Play Slip

A form or ticket used by players to select numbers for lottery games before purchase.

UCC

A collection of laws and regulations in the United States that govern commercial transactions and the sale of goods.

Common Law

A legal system based on judicial decisions and precedents rather than statutory laws.