Which of the Following Statements Is Correct

question 43

Multiple Choice

Which of the following statements is correct?

• A) The operation of a market system eventually results in an equal distribution of income
• B) Producers are "sovereign" in a market economy because they determine what is produced
• C) The market system is efficient at allocating resources, but not at allocating products
• D) Freedom of choice and enterprise are essential elements of the market system

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Definitions:

Geo-Fencing

A location-based technology that uses small sensors to send messages to smartphone users who enter a nearby, defined geographic area.

Big Sale

A significant reduction in the prices of products or services, often for a limited period, to attract customers and increase sales volume.

Smartphone Alert

Notifications or messages sent to a smartphone to inform the user about various types of information, including reminders, warnings, or updates.

Customer Service Objective

A goal that focuses on delivering superior service to customers, aiming to meet or exceed their expectations and enhance satisfaction.