Which of the Following Statements Does Not Apply to a Market

question 388

Multiple Choice

Which of the following statements does not apply to a market economy?

• A) Firms decide whom to hire and what to produce.
• B) The "invisible hand" usually maximizes the well­being of society as a whole.
• C) Households decide which firms to work for and what to buy with their incomes.
• D) Government policies are the primary forces that guide the decisions of firms and households.

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Definitions:

Awarded

Typically refers to receiving something as a recognition of excellence or the decision to grant a certain benefit or honor, often through a formal process.

Judgment

A formal decision or ruling made by a judge or court at the conclusion of a legal proceeding.

Jurisdiction

The authority given to a legal body to administer justice within a defined field of responsibility, such as geographic area or subject matter.

World

The term "World" typically refers to the Earth or the totality of entities, the living beings that inhabit it, and the areas of human habitation.