The market economy is regarded as "efficient" in that
A)it achieves the lowest rate of unemployment.
B)it leads to the lowest level of poverty in the society.
C)it directs resources toward products that the society wants most.
D)it puts the best people in government positions.

Question

Quizplus · Accepted Answer

The market economy is considered efficient because it allocates resources towards the production of goods and services that are most desired by society, as indicated by consumer demand. This is achieved through the price mechanism, where prices adjust based on supply and demand, guiding resources to their most valued uses.

The Market Economy Is Regarded as "Efficient" in That