The Price System Has Its Largest Informational Advantage

question 85

Multiple Choice

The price system has its largest informational advantage

• A)any time exchange must take place and different individuals have comparative advantages.
• B)when parties to exchanges are spread out and very close coordination is not necessary.
• C)in government bureaucracy.
• D)in large business enterprises where production is in many locations.
• E)in small business enterprises where all production is one location.

---

Definitions:

Sanction

A penalty for norm violation or a reward for norm adherence.

Culture Shock

A feeling of disorientation or discomfort experienced by someone who is suddenly subjected to an unfamiliar culture, way of life, or set of attitudes.

Stages

Stages refer to distinct phases or periods in the development or process of something, often used in contexts such as human development, project management, or historical progression.

Animals

Living organisms that feed, respire, move, reproduce, and grow but do not possess the cognitive capabilities of humans.