The Figure Given Below Represents the PPC in Two Nations

question 55

Multiple Choice

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4

-Which of the following statements is not true about a market system?

• A)The market system provides an incentive to consumers to acquire purchasing ability.
• B)The market system magnifies the problem of scarcity of goods and services.
• C)The market system provides an incentive for allocating resources.
• D)The market system provides an incentive to improve the quality of goods produced.
• E)The market system provides everything everyone wants to consume.

---

Definitions:

Ontological Depth

Refers to the complexity and richness of being or existence, often discussed in philosophical contexts regarding the nature of reality.

Structuration Theory

A social theory that posits that individuals and society shape each other through a dynamic and reciprocal process of actions and structures.

Substantive Rationality

A type of rationality that considers the values, ethics, and social implications of actions rather than merely focusing on the most efficient means to an end.

Formal Rationality

A decision-making process based on rules, regulations, and procedures, often associated with bureaucracy and organizational efficiency.