Who or what is responsible for the allocation of scarce resources into the production of most goods in the U.S.?
A)the American government
B)the UN
C)the Federal Reserve Bank
D)markets and prices

Question

Quizplus · Accepted Answer

In the United States, the allocation of scarce resources into the production of most goods is primarily done through the market mechanism, where prices serve as signals for producers and consumers to make decisions about what goods to produce and purchase. Through the interaction of supply and demand, prices adjust to allocate resources efficiently, with goods that are in higher demand being produced more and those in lower demand being produced less. While the government and Federal Reserve Bank may influence market forces through policies like taxation or interest rate changes, the market system is generally responsible for resource allocation. The UN does not have jurisdiction over the allocation of resources in the United States.

Who or What Is Responsible for the Allocation of Scarce