In a Laissez-Faire Economy, the Price System Plays a Key

question 127

Multiple Choice

In a laissez-faire economy, the price system plays a key role in

• A)selecting outputs.
• B)selecting inputs.
• C)distributing outputs.
• D)All of the above are correct.

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Definitions:

Creative Process

A sequence of thoughts and actions that lead to the production of novel and useful ideas or outcomes.

Elimination

The process of removing or getting rid of something or someone.

Win-Lose Situation

A conflict resolution scenario where one party's gain is directly correlated with another party's loss, often leading to competitive or adversarial interactions.

Concentration Stage

A phase in a process where focus or efforts are intensified towards a specific goal or activity.