A. all participants get some satisfaction
B. scarce resources are put into goods that are in demand
C. economic output is distributed to those who can pay the price
D. all of the above
Related Mcqs:
- The resources in the economy do not include ?
A. Demand
B. Land
C. Labour
D. Capital - The participants in a market economy cannot pursue their goals freely because they are affected by_________________?
A. the ratio of gold to paper money
B. economic laws
C. prices and incomes
D. the religious institution - How are decisions about production made in a market economy ?
A. By a command system
B. According to tradition
C. Through a price system
D. By executive fiat - One of the perceived advantages of suburban living is_______________________?
A. concentration of apartments
B. larger variety of cultural resources
C. older more gracious housing
D. greater safety from crime - If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?
A. The higher price in market A
B. The higher price in market B
C. The same Price in both markets
D. Cannot tell which price will be higher - If an economy is productively efficient ?
A. Everyone is wealthy
B. Resources are unemployed
C. More of one product can only be produced if less of another product is produced
D. The distribution of income is eqal - The resources in an economy are ?
A. Constantly increasing
B. Fixed at any moment
C. Constantly decreasing
D. Able to be transferred easily between industries - The total quantity of goods and services produced (or supplied) in an economy in a given period is ?
A. aggregate investment
B. aggregate expenditure
C. aggregate demand
D. aggregate output - The primary function of the economy as a social institution is to________________?
A. convict felons in Common Pleas Cout
B. Provide a blueprint showing people how to survive
C. show people how to obtain goods and services without having to pay for them
D. none of the above - Total planned OR desired spending in the economy as a whole within a given period is called_____________?
A. pent-up demand
B. aggregate demand
C. elastic demand
D. excess demand
