The signals that guide the allocation of resources in a market economy areGroup of answer choicesprices.surpluses and shortages.government policies.quantities.
Question
Solution 1
The signals that guide the allocation of resources in a market economy are prices.
Here's why:
- Prices act as a signal for buyers and sellers. For buyers, a high price is a deterrent that discourages consumption and encourages them to seek alternatives. For sellers, a high price is an incentive Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI
Similar Questions
The citizens of the United States live and work in a a) closed economy. b) command economy. c) mixed market economy. d) pure market economy.
The liberal market economy emphasizes which of the following?Group of answer choicesHigh taxesStrong governmentSocial welfareFree market
On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production
The amino acids coded by a single codon areGroup of answer choicesMet and TyrMet and TrpTrp and TyrCys and TyrCys and Met
In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of:
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.