In a market economy,
A) prices are set by businesses alone.
B) businesses adjust prices more often than quantities.
C) prices are determined by the interaction of demand and supply.
D) consumers must buy at the prices businesses set.
E) the government determines prices.
Correct Answer:
Verified
Q33: For exchange to be voluntary the price
Q34: In a voluntary exchange, the price must
Q35: Voluntary exchange is a zero-sum game.
Q36: Property rights are legally enforceable guarantees of
Q37: For exchange to be voluntary the price
Q39: In a voluntary exchange, the price must
Q40: Without property rights there would be no
Q41: Falling prices for a service
A) create incentives
Q42: A surplus is the amount by which
Q43: Rising prices for a service
A) create incentives
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