Quizzol

QUESTION:

Which of the following statements is true about a market economy?

a. Market participants act as if guided by an "invisible hand" to produce outcomes that promote general economic well-being.

b. The strength of a market system is that it tends to distribute resources evenly across the population.

c. With a large enough computer, central planners could guide production more efficiently than markets.

d. Taxes help prices communicate costs and benefits to producers and consumers.

ANSWER:

a) Market participants act as if guided by an "invisible hand" to produce outcomes that promote general economic well-being

Posted by Cleveland on August 28, 2024