Multiple Choice
Which of the following statements is FALSE?
A) In a market economy, goods and services are produced using least-cost production techniques.
B) In a market economy, the basic economic questions are answered through the interaction of buyers and sellers.
C) In a planned economy, how goods and services are produced is determined largely by the resources made available to producers.
D) In most economies, the basic economic decisions are made either entirely by private individuals, or entirely by centralized authorities.
Correct Answer:
Verified
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