In a Market System, Decisions About How to Allocate Resources

question 16

Multiple Choice

In a market system, decisions about how to allocate resources are made:

• A)by central planning boards in each industry.
• B)by a lottery system
• C)by individuals and firms interacting in markets coordinated by market prices.
• D)by large conglomerates working cooperatively with the government.
• E)by cartels of the largest firms in an economy.

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Definitions:

Conversational Language

The informal, often spontaneous language used in personal or casual dialogue.

White Space

The use of blank or empty areas in a design or document to create separation and improve readability or aesthetic appeal.

Bullet Lists

A format that organizes information into a list of items preceded by bullet points, aiding readability and highlighting key points.

Organizational Culture

The shared values, beliefs, and norms that influence the behavior of individuals within an organization.