Why is it necessary for all economic systems to not only provide people with goods and services,but also restrict them from getting as much of these goods and services as they wish?
A) Failure to do this could reduce the efficiency of the system by producing some goods and services that are not as highly valued as others.
B) Failure to do this could lead to an inequitable allocation of goods and services produced.
C) Failure to do this could lead to drastic shortages of goods and services.
D) Failure to do this reduces efficiency and leads to an inequitable allocation of output.
Correct Answer:
Verified
Q61: Arlene quits her $125 000-a-year job to
Q72: Automobile manufacturers produce a range of automobiles
Q73: Which of the following statements is true?
A)
Q78: The decision about what goods and services
Q83: The Coffee Nook, a small cafe near
Q88: Which of the following statements about the
Q103: Markets promote
A)equity and competition.
B)voluntary exchange and equality.
C)equity
Q111: Allocative efficiency is achieved when firms produce
Q114: Which of the following is a problem
Q120: When production reflects consumer preferences, _ occurs.
A)allocative
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents