Consider the Following Economic Agents: A. the Government

question 115

Multiple Choice

Consider the following economic agents: a. the government
B. consumers
C. producers
Who, in a market economy, decides what goods and services will be produced with the scarce resources available in that economy?

• A) the government
• B) producers
• C) consumers
• D) consumers and producers

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Definitions:

Dramaturgical Sociology

A perspective in sociology, introduced by Erving Goffman, that likens social life to a theatrical performance where individuals present themselves in ways that will be accepted by others.

Scientific Method

A systematic and empirical method of investigation involving observation, hypothesis formation, experimentation, and conclusion to acquire or refine knowledge.

Democratic Revolution

A fundamental change in political power or organizational structures that occurs when the population revolts against the existing regime to establish a more democratic system.

Evidence

Information or facts presented to support or refute a claim, often used in legal contexts.