Which of the following statements is NOT true about the price system?
A) The price system allows resources to flow from low-valued uses to high-valued uses.
B) Firms have total control over what consumers can buy.
C) Individuals have freedom to purchase what they want.
D) The price system allows for economic efficiency.
Correct Answer:
Verified
Q13: A situation in which a market economy
Q14: In its most ideal form, a price
Q15: Market failures
A) are usually caused by government
Q16: A market failure likely occurs when
A) the
Q17: Market failures
A) prevent the price system from
Q19: A price system is considered to be
Q20: An example of a market failure is
A)
Q21: Which of the following leads to an
Q22: Which of the following often involves positive
Q23: A result of a positive externality in
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