"The 'Dollar Votes' of Consumers Ultimately Determine the Composition of Output

question 102

Multiple Choice

"The 'dollar votes' of consumers ultimately determine the composition of output and the allocation of resources in a market economy." This statement best describes the concept of:

• A)derived demand.
• B)external costs and benefits.
• C)consumer sovereignty.
• D)the invisible hand.

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Definitions:

Urine

A liquid waste product filtered from the blood by the kidneys, excreted through the urethra.

High-Frequency Sound Waves

Sound waves that have a frequency higher than the upper limit of human hearing, used in applications like ultrasound imaging.

Ultrasonography

A diagnostic imaging technique that uses high-frequency sound waves to create images of organs and structures inside the body.

Hypercalciuria

A condition characterized by an excessive amount of calcium in the urine.