Markets coordinate in a way that links buyers and sellers who rely primarily on:
A) voluntary cooperation and undirected actions.
B) management direction of economic actions.
C) governmental policies to direct the economic actions.
D) the benevolence and good will of the market participants.

Question

Quizplus · Accepted Answer

Markets rely primarily on voluntary cooperation and undirected actions to link buyers and sellers. Sellers set prices and buyers decide whether they want to purchase the goods or services at that price. This system works based on the self-interest of individuals, and it is not directed by management or government policies. The market participants do not need to act out of benevolence or good will, but rather they act according to their own self-interest.

Markets Coordinate in a Way That Links Buyers and Sellers