A drawback of the market system in dealing with the basic economic questions is:
A) it depersonalizes economic decision-making.
B) it produces high incomes for people with highly valued skills, and owners of highly valued resources.
C) it does not protect people with inadequate knowledge about products.
D) power is always concentrated on the side of businesses and consumers have no influence on business decisions.
Correct Answer:
Verified
Q71: In an economy based on individual decision
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
Q77: A weakness of a market system is:
A)
Q78: When a market system causes a problem
Q79: Cost-minimizing efforts by businesses that lead to
Q80: Market failure occurs when:
A) the price system
Q81: Market failure occurs when:
A) a small number
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