In which of the following ways is the private market sector similar to the public sector in terms of decision making?
A) Prices determine the demand for goods and services in each sector.
B) There is competition for scarce resource in both sectors.
C) Both sectors may use a type of "force" if necessary.
D) Votes by individual voters are basically equal in importance with dollars spent by individuals on goods.

Question

Quizplus · Accepted Answer

Both the private market sector and the public sector face competition for scarce resources, as they both must allocate limited resources to meet various needs and demands.

In Which of the Following Ways Is the Private Market