The Signals in Markets Are Determined

question 264

Multiple Choice

The signals in markets are determined

• A) by supply and demand.
• B) for all goods by the government through the use of price controls.
• C) in an unfair manner that ends up hurting the poor.
• D) by nonprice rationing devices.

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Definitions:

Past Events

Occurrences or actions that have taken place before the present time.

Motivation

The internal or external drive that prompts individuals towards actions, goals, or to fulfill certain needs.

Free Will

The ability of individuals to make choices that are not predetermined by past events or natural laws.

Determinism

The philosophical doctrine that all events, including moral choices, are determined completely by previously existing causes.