One way that governments can improve market outcomes is to ensure that individuals are able to own and exercise control over their scarce resources.
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Q18: Scarcity means that there is less of
Q19: An increase in the marginal cost of
Q20: Because resources are scarce, a society cannot
Q21: Market failure refers to a situation in
Q22: Inflation increases the value of money.
Q24: The invisible hand ensures that economic prosperity
Q25: To say people respond to incentives means
Q26: One of the effects of gas prices
Q27: Inflation is the primary determinant of a
Q28: A market economy cannot produce a socially
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