Under a pure price system, the decision of resource allocation is made by
A)the head of the government.
B)a queen or king.
C)individuals who own the resources.
D)no one.

Question

Quizplus · Accepted Answer

Under a pure price system, resources are allocated based on the decisions made by individuals who own the resources. The prices of goods and services are determined through market forces of supply and demand, which reflect the choices and preferences of consumers and producers. Through this mechanism, resources are allocated efficiently to meet consumer demand and maximize profits for producers. Therefore, the best choice is C.

Under a Pure Price System, the Decision of Resource Allocation