In a free market economy,
A) as a good becomes relatively more scarce, its price declines.
B) government decides what is produced, and producers decide who gets to consume it.
C) goods and services are allocated by a price system.
D) firms choose only to produce the most fashionable goods, regardless of the cost of production.
Correct Answer:
Verified
Q18: What would lead a customer to purchase
Q19: Using the least-cost combination of inputs enables
Q20: How do firms choose which production methods
Q21: In the past five years, two trends
Q22: Which one of the following is TRUE?
A)
Q24: Consumers will purchase those goods
A) for which
Q25: In choosing whether to produce something, a
Q26: Why does a wool coat cost more
Q27: Why do we need an economic system?
A)
Q28: Which one of the following is TRUE?
A)
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