The Market System Is Also Called the Price System Because

question 303

Multiple Choice

The market system is also called the price system because

• A) rising prices are the signal to producers to offer more of a particular good.
• B) people pay money in markets.
• C) everything has a price tag.
• D) inflation is a significant problem.

---

Definitions:

Reconstruction

The period following the Civil War (1865-1877) during which the United States attempted to reintegrate the Southern states into the Union and address the social, political, and economic issues arising from emancipation.

Agribusiness

The industry involved in the production, processing, and distribution of agricultural products, often on a large scale.

Impeachment

A formal process in which an official is accused of unlawful activity, potentially leading to the removal from office.

President Johnson

Likely refers to Lyndon B. Johnson, the 36th President of the United States, known for his domestic policies, including the Great Society programs.