The market system's answer to the fundamental question "How will the system accommodate change?" is essentially
A)"Through government leadership and direction."
B)"Through the guiding function of prices and the incentive function of profits."
C)"Through training and retraining programs."
D)"Through trial and error."

Question

Quizplus · Accepted Answer

The market system accommodates change through the guiding function of prices and the incentive function of profits, which signal to producers and consumers how to adjust their behavior in response to changes in supply and demand.

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