Which of the following statements is false?
A) In most western economies, markets play a central role in allocating resources among competing uses.
B) In a market economy, prices do not play an important role in allocating of society's scarce resources.
C) Markets can answer the "what," "how," and "for whom" questions faced by every society.
D) Markets consist of both buyers and sellers of a good or service.

Question

Quizplus · Accepted Answer

In a market economy, prices are crucial for allocating society's scarce resources efficiently. They signal the relative scarcity of goods and services, guiding both consumers and producers in their decisions.

Which of the Following Statements Is False