Of the statements below only ONE is not a characteristic of a market economy (as stated in the textbook). Which of the below is NOT TRUE for a market economy? Group of answer choices A market economy allocates goods and services based on the needs of the people. The market economy uses prices to allocate scarce resources. The market economy is a powerful force for making our lives better.
Of the statements below only ONE is not a characteristic of a market economy (as stated in the textbook). Which of the below is NOT TRUE for a market economy? Group of answer choices A market economy allocates goods and services based on the needs of the people. The market economy uses prices to allocate scarce resources. The market economy is a powerful force for making our lives better.
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 4SQ
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The chapter 1 (Power of Markets) of the Naked Economics textbook goes into some length to explain the strengths and weaknesses of a market economy. Some of these are written following dark, italics headings. Of the statements below only ONE is not a characteristic of a market economy (as stated in the textbook). Which of the below is NOT TRUE for a market economy?
Group of answer choices
A market economy allocates goods and services based on the needs of the people.
The market economy uses prices to allocate scarce resources.
The market economy is a powerful force for making our lives better.
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ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
