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:

Explanatory Notes

Supplementary texts that provide explanations or clarifications on primary documents, often to aid in understanding complex legal or technical documents.

Deceptive Labelling

The practice of misrepresenting the qualities, ingredients, or characteristics of a product on its label.

Food and Drugs Act

A law that sets standards for the safety and quality of food, drugs, medical devices, and cosmetics.

Penal Statutes

Laws enacted to punish violations serving as deterrents against the commission of crimes.