Which of the following structures is used for allocating scarce resources?
A) a factor distributor
B) an econometric plan
C) the gross domestic product
D) an economic system

Question

Quizplus · Accepted Answer

An economic system is a structure that is used for allocating scarce resources. It includes the rules, institutions, and organizations that coordinate economic activity between individuals and businesses. Factors distributors are not a commonly used term in economics, econometric plans are tools used for forecasting economic activity and estimating the impact of policy changes, and GDP is a measure of a country's economic output and does not play a direct role in the allocation of resources.

Which of the Following Structures Is Used for Allocating Scarce