The Price System Has Information Advantages Over Nonmarket Systems Only

question 144

True/False

The price system has information advantages over nonmarket systems only when buyers and sellers can personally communicate their marginal benefits or marginal costs to each other.

---

Definitions:

Cultural Resource Management

A branch of archaeology concerned with survey and/or excavation of archaeological and historical remains that might be threatened by construction or development; also involved with policy surrounding protection of cultural resources.

Cultural

Cultural pertains to the ideas, customs, and social behavior of a particular people or society, encompassing language, art, beliefs, norms, and rituals.

Perspectives

Particular attitudes or ways of viewing something based on one's experiences and beliefs.

Harvesting

The act of gathering mature crops from the fields, marking the culmination of the growing season and the beginning of post-harvest processing.