"For Whom Is a Given Mix of Goods and Services

question 165

Multiple Choice

"For whom is a given mix of goods and services to be produced? How, in other words, are the society's outputs to be distributed among its members?" In a market economy, this question is resolved primarily in the

• A)public sector through the mechanism of central planning.
• B)business sector through the mechanism of advertising.
• C)private sector through the earning and spending of income.
• D)money market through borrowing and saving by households and businesses.

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Definitions:

Sharp Borders

Clearly defined boundaries or distinctions that separate one entity or concept from another, without overlap or ambiguity.

Referents

Entities in the world that words or phrases refer to or denote in discourse.

Circular

Referring to something shaped like a circle or a process that returns to its starting point with no clear beginning or end.

Metaphorical Language

The use of figures of speech, like metaphors, to convey meanings in a non-literal manner, enriching language with imagination and depth.