How Good Are Markets at Organizing Economic Activity

question 38

Multiple Choice

How good are markets at organizing economic activity?

• 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 a good 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:

Political Debate

A formal discussion where representatives of different views or parties discuss subjects of political nature, aiming to express and challenge each other’s viewpoints.

Welfare

Government-provided support for those unable to support themselves, including financial aid, healthcare, and social services.

Abu Ghraib

A prison located in Abu Ghraib, Iraq, which gained international notoriety for human rights abuses and torture of detainees by U.S. military personnel during the Iraq War.

Civilized Behavior

Conduct considered socially appropriate and reflective of societal norms and values, often used historically to justify colonial and cultural dominance.