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:

Mutations

Changes in the DNA sequence that affect genetic information, which can lead to variations in phenotype.

Insertions

The addition of one or more nucleotide pairs into a genetic sequence, which can lead to changes in gene function or regulation.

Phenotype

The set of observable characteristics or traits of an organism, resulting from the interaction of its genetic makeup with the environment.

Protein-Coding Sequence

A segment of DNA or RNA that is translated into a protein, containing instructions for the amino acid sequence of the protein.