Asked by Autumn Lewis on Jul 19, 2024
Verified
The incentives built into the market economy ensure that resources are put to good use and that opportunities to make people better off are not wasted.This means that:
A) people usually are not selfish enough to exploit opportunities to make themselves better off.
B) markets move toward equilibrium.
C) resources should be used as efficiently as possible to achieve society's goals.
D) markets usually lead to efficiency.
Market Economy
A type of economic system where decisions regarding investment, production, and distribution are based on supply and demand, with minimal government intervention.
Efficient
Optimally using resources in a manner that maximizes the production of goods and services without wasting them.
Resources
The inputs used in the production of goods and services, including labor, capital, land, and entrepreneurship.
- Determine the elements contributing to market efficiency and the motivations inherent in market economies.
Verified Answer
Learning Objectives
- Determine the elements contributing to market efficiency and the motivations inherent in market economies.
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