Under a Pure Price System, the Decision of Resource Allocation

question 332

Multiple Choice

Under a pure price system, the decision of resource allocation is made by

• A) the head of the government.
• B) those who have the right to vote in government elections.
• C) individuals who own the resources.
• D) no one.

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Definitions:

Scientific Methodologies

A systematic process of inquiry involving observation, experimentation, and analysis to acquire knowledge and enhance understanding.

Useful Data

pertains to information that is relevant, reliable, and can be effectively utilized for decision-making processes or problem-solving.

Opportunity Costs

Letting go of possible advantages in other alternatives when favoring one.