In a Market System, Which Component Conveys Information About What

question 316

Multiple Choice

In a market system, which component conveys information about what is relatively scarce and what is relatively abundant?

• A) the number of producers
• B) the number of consumers
• C) market price
• D) the amount of resources used in producing the goods and services

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Definitions:

Private Donations

Financial or material contributions given by individuals, organizations, or companies to private entities or causes without expecting anything in return.

Texting While Operating

The act of sending, reading, or writing text messages on a mobile device while engaged in operating a vehicle or machinery, often illegal due to safety concerns.

Concurrent Powers

Powers that are shared by both the state and federal governments in the United States, such as the power to tax and build roads.

Tenth Amendment

An amendment to the U.S. Constitution that states powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.