Asked by Rebika Basnet on May 07, 2024
Verified
Most goods in our economy are allocated in markets, where buyers pay for what they receive and sellers are paid for what they provide.
Buyers
Individuals or entities that purchase goods or services for personal use, consumption, or investment.
Sellers
Individuals or entities that offer goods or services for sale in the market.
- Comprehend the economic rationale behind the allocation of goods in markets.
Verified Answer
EA
Elmira AllabackMay 09, 2024
Final Answer :
True
Explanation :
In market economies, most goods and services are allocated through markets where prices serve as signals for the allocation of resources. Buyers pay for what they receive, and sellers receive payment for what they provide, facilitating the exchange of goods and services.
Learning Objectives
- Comprehend the economic rationale behind the allocation of goods in markets.