Which of these statements does not apply to market economies?
A) Prices prevent decentralized decision making from degenerating into chaos.
B) Prices coordinate the actions of millions of people with varying abilities and desires.
C) Prices ensure that anyone who wants a product can get it.
D) Prices ensure that what needs to get done does in fact get done.
Correct Answer:
Verified
Q1: In any economic system,scarce resources have to
Q4: The signals that guide the allocation of
Q5: Adam Smith suggested that an invisible had
Q12: Another term for equilibrium price is
A)dynamic price.
B)market-clearing
Q14: When supply and demand both increase,equilibrium
A)price will
Q16: If the demand for a product decreases,then
Q110: An increase in the price of cotton
Q118: There is no shortage of scarce resources
Q123: Table 4-9 Q228: If the demand for a product increases,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents