The market system's answer to the fundamental question "How will the goods and services be produced?" is essentially
A) "With as much machinery as possible."
B) "Using the latest technology."
C) "By exploiting labor."
D) "In ways that minimize the cost per unit of output."

Question

Quizplus · Accepted Answer

The market system aims to produce goods and services in the most efficient way possible, which means producing them at the lowest cost per unit of output. This is achieved by minimizing costs through the use of various methods such as technology, labor, and machinery. Therefore, the correct answer is D, "In ways that minimize the cost per unit of output."

The Market System's Answer to the Fundamental Question "How Will