Which statement is false?
A) Under our economic system,most of the important decisions are made in the market place.
B) In our economy the price mechanism determines the answers to our three basic questions-what,how,and for whom.
C) Most economists would agree that the price system leads to a very efficient allocation of resources.
D) None of these statements are false.
Correct Answer:
Verified
Q5: Which statement is true?
A)The communist system of
Q6: Private ownership of most of the means
Q7: In the circular flow model,businesses
A)demand both products
Q8: Sweden and Norway would best be described
Q9: In order for the price mechanism to
Q11: A socialist economy is characterized by
A)an extensive
Q12: A person will do more good pursuing
Q13: Karl Marx said the people who control
Q14: In a centrally planned economy
A)consumers do not
Q15: Which statement was coined by Adam Smith?
A)By
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