In Any Economic System,scarce Resources Have to Be Allocated Among

question 1

Multiple Choice

In any economic system,scarce resources have to be allocated among competing uses.Market economies harness the forces of

• A)government to allocate scarce resources.
• B)supply and demand to allocate scarce resources.
• C)credit cards to allocate scarce resources.
• D)nature to allocate scarce resources.

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Definitions:

Marine Sponge

Simple aquatic animals with porous bodies, belonging to the phylum Porifera, known to produce bioactive compounds used in pharmaceuticals.

Aldol Reaction

A chemical reaction between aldehydes or ketones, catalyzed by a base, leading to β-hydroxyaldehydes or β-hydroxyketones.

Crossed-aldol Product

The product resulting from an aldol reaction between two different aldehyde or ketone reactants, occasionally leading to complex mixtures.

2,2-dimethylpropanal

A chemical compound, specifically an aldehyde, characterized by the presence of two methyl groups attached to the second carbon in a propane chain.