The Efficiency of Competitive Markets Happens Because

question 150

Multiple Choice

The efficiency of competitive markets happens because

• A) of the benevolence of the butcher, the brewer, and the baker.
• B) people make environmentally aware purchasing decisions.
• C) prices adjust to make buying plans and selling plans compatible.
• D) government organizes and monitors production.
• E) the U.S. economy uses a command system to allocate resources within the competitive markets.

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Definitions:

Mental State

The condition of one's mind in terms of thoughts, feelings, and emotions at a given time.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often involving judgment, problem-solving, and considering the potential outcomes.

Pros

The advantages or positive aspects of a situation or decision.

Cons

The arguments, reasons, or factors opposing an idea, decision, or action; the drawbacks or disadvantages.