An auction is an example of a coordination mechanism.
Answer the following statement true (T) or false (F)
True
All markets are a type of coordination mechanism.
You might also like to view...
A natural monopoly occurs when
A) one firm owns all the vital resources needed to produce a particular good. B) economies of scale allow one firm to supply the entire market at the lowest possible cost. C) a few firms collude to act as a single firm. D) one firm captures all the consumer surplus.
The evidence shows that the domestic and world markets for American cotton contributed to the spread of slavery into new lands
Indicate whether the statement is true or false
The difference, in terms of economic goals, between developing countries and developed countries is that:
A. developing countries focus primarily on achieving an equitable distribution of income, while developed countries focus on higher economic growth rates. B. there are no differences between the economic goals of developing and developed countries. C. developing countries focus primarily on achieving economic stability, while developed countries focus on an acceptable growth rate. D. developing countries focus primarily on meeting basic needs, while developed countries focus on economic stability.
What percentage of their spending do U.S. consumers allocate to food purchases?
A. 1 percent. B. 8 percent. C. 13 percent. D. 15 percent.