In an Economy in Which Decisions Are Guided by Prices

question 21

Multiple Choice

In an economy in which decisions are guided by prices and individual self-interest,there is

• A)the potential to achieve efficiency in production.
• B)a strong need for government intervention in the market.
• C)less efficiency than would be observed in a centrally-planned economy.
• D)more need for a strong legal system to control individual greed than would be needed in a centrally-planned economy.

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Definitions:

Married Men

Male individuals who are legally bound in matrimony to a spouse, encompassing a wide range of personal, social, and legal aspects.

Divorced Men

Men who have legally ended their marriage. This term specifically refers to their marital status and the aftermath experienced.

Naturalistic Observation

An approach to research in which the researcher engages in careful observation of behavior without intervening directly with the subjects.

Play Behavior

Activities engaged in for enjoyment and recreation, especially by children, that are often spontaneous and involve imaginative or physical activity.