In an economy based on individual decision making, goods and services are produced:
A) using the least-cost method of production.
B) by individuals rather than by business firms.
C) in response to the wishes of any single buyer in the market.
D) all of the above.
Correct Answer:
Verified
Q66: A good is produced efficiently when it
Q67: When deciding on a method of production,
Q68: By producing its product using the least-cost
Q69: In a pure market economy, who receives
Q70: In a market system, income received by
Q72: Which of the following statements about an
Q73: The strength of a market system is:
A)
Q74: In a market system:
A) profit and income
Q75: Market economies tend to produce goods and
Q76: A drawback of the market system in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents