The market mechanism benefits society by ensuring that ________.
A)more people will want to buy more BlackBerrys
B)society will maintain the current standard of living
C)resources are used to increase the benefits of low-value products
D)scarce resources are channeled into products most desired by society

Question

Quizplus · Accepted Answer

The market mechanism allows individuals and businesses to make choices about what goods and services to produce and consume based on their own self-interest. This results in scarce resources being allocated to products that are most in demand and desired by society. As a result, the market mechanism benefits society by ensuring that resources are used efficiently and effectively, improving overall economic well-being.

The Market Mechanism Benefits Society by Ensuring That ________