The price system has
A) prices fixed by the government.
B) prices fixed by the seller.
C) voluntary exchange.
D) prices fixed by the producer.
C
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A pay-as-you-go system
A. has current retirees being paid out of the taxes of current workers. B. has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations. C. has a sufficient amount of money on hand currently to pay out all future obligations. D. always requires a trust fund.
The network effect in the TV broadcasting industry results in
A) a positive market feedback between the number of advertisers and the size of TV audience. B) a negative market feedback between the number of advertisers and the size of TV audience. C) a positive market feedback between the number of advertisers and the number of TV channels. D) a negative market feedback between the number of advertisers and the number of TV channels.
Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, which option would win overall?
A. It is impossible to predict which option would win. B. Public zoo C. Public transportation D. Public parks
A profit-maximizing monopolist always charges the highest price possible.
Answer the following statement true (T) or false (F)