Which of the Following Is the Best Statement About Markets

question 9

Multiple Choice

Which of the following is the best statement about markets?

• A)Markets are usually a good way to organize economic activity.
• B)Markets are usually inferior to central planning as a way to organize economic activity.
• C)Markets fail and are therefore not an acceptable way to organize economic activity.
• D)Markets are a good way to organize economic activity in developed nations, but not in less developed nations.

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Definitions:

Southern Extremists

Individuals or groups in the southern United States who hold radical views, often associated with aggressive advocacy for certain ideologies or resistance to change.

Secession

The act of withdrawing from an affiliation, union, or federation, notably as practiced by Southern states leading to the American Civil War when they left the Union to preserve slavery and states' rights.

Compromise

A settlement of differences by mutual concessions or reciprocal modification of demands.

Fort Henry

A historical fortification, which can refer to several locations in different countries, known for its strategic military significance.