Scenario 4-1 In a Given Year, Country a Exported $12 Million Worth

question 20

Multiple Choice

Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
-Which of the following is a possible advantage of a free market condition?​

• A)​In a free market, consumers are offered discounts on the purchase of products.
• B)​In a free market, all goods and services are offered for free to households below the poverty line.
• C)​In a free market, continuous government intervention helps keep the price of products under control.
• D)​In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price.
• E)​In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.

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Definitions:

Poisson Process

A stochastic process that models the occurrence of events in fixed intervals of time or space where events occur with a constant mean rate and independently of the time since the last event.

Random Pattern

An arrangement or distribution showing no regularity or discernible order, often analyzed to understand the randomness in spatial or sequence data.

Teamwork

Collaborative effort by a group of people to achieve a common goal or complete a task in the most effective and efficient way.

Communication

The exchange of information or messages between individuals or groups, vital for collaboration and understanding in any context.