The Miracle of Markets Is That

question 39

Multiple Choice

The miracle of markets is that

• A) markets coordinate smart choices of consumers and businesses without any role for government.
• B) businesses are free to set any prices they choose.
• C) consumers and businesses learn about each others' personal wants and production capabilities.
• D) the products and services we want are produced as a byproduct of individual decisions made by complete strangers.
• E) scarcity is eliminated by the interaction of demand and supply in markets with appropriate property rights.

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Definitions:

National Health Insurance

A government-sponsored insurance scheme intended to provide health coverage to citizens, typically funded through taxes.

Entrepreneurial System

A socioeconomic structure that enables innovation and supports individuals in developing new businesses and ventures.

Health Care Reform

Changes made to improve accessibility, quality, and cost-effectiveness of health care services.

Commission

A formal group or body delegated to perform a specific function or to investigate, discuss, or report on a particular matter.