What do you mean by the term 'market process'?
a. It refers to the way that scarce goods and services are allocated through individual actions and self-interest of buyers and sellers.
b. It refers to the way that scarce resources are allocated by a government to firms that value them the most
c. It refers to the way in which markets adjust to changes in demand and supply.
d. It refers to a system in which goods and services are exchanged through transactions by private households and firms.
e. It refers to a way in which final goods and services are distributed to potential consumers.
a
You might also like to view...
It is reasonable to assume that in a developed economy technological shocks occur ________ across industries, which ________ the RBC theory of business cycles
A) randomly, opposes B) randomly, supports C) uniformly, opposes D) uniformly, supports
The cost of education, professional athletes’ pay, and medical services rise faster than the rate of goods and services because their average productivity has remained the same.
Answer the following statement true (T) or false (F)
A product's price approaches its marginal cost as market concentration increases
Indicate whether the statement is true or false
If an individual moves money from a small-denomination time deposit to a demand deposit account
A) M1 increases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 increases and M2 decreases.