In general, the market system is the most efficient allocation mechanism because

Question

Quizplus · Accepted Answer

The market system relies on the pursuit of self-interest by individuals and firms to allocate resources and determine prices. This self-interest leads to competition and efficiency, as producers strive to create the best products at the lowest cost to attract consumers. The other options listed may contribute to market efficiency in certain circumstances, but are not inherent in the market system itself.

In General, the Market System Is the Most Efficient Allocation