The term market mechanism refers to
A) The use of market prices and sales to signal desired output.
B) Resource allocation based on a production possibilities curve.
C) Resource allocation based on consumer needs.
D) Government laws and regulations concerning how the market should operate.
Correct Answer:
Verified
Q13: Q14: The market Q15: Q16: From an economic standpoint,government intervention may be Q17: Market failure may lead to Q19: Which of the following is possible when Q20: The optimal mix of output may not Q21: The central question in determining whether a Q22: The market tends to underproduce public goods Q23: Which of the following explains what would
A)On its own may not always
A)An equitable distribution
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