The market system
A) produces considerable ineﬃciency in the use of scarce resources.
B) effectively harnesses the incentives of workers and entrepreneurs.
C) is not consistent with freedom of choice in the long run.
D) has slowly lost ground to emerging command systems.

Question

Quizplus · Accepted Answer

The market system effectively harnesses the incentives of workers and entrepreneurs, as they are motivated by the potential for profit to engage in productive activities. While the market system may not always allocate resources efficiently, it remains a prominent economic system globally. It is not accurate to suggest that the market system has lost ground to emerging command systems.

The Market System