Which of the following statements about markets is false?
A) markets are used to allocate resources in market systems
B) markets can vary in geographical size
C) prices are used to allocate goods in markets
D) markets are used to allocate resources in centrally-planned socialist economic systems
E) supply and demand explains how prices are set in competitive markets
Correct Answer:
Verified
Q2: In analyzing the market for a particular
Q3: In a market system,prices are determined by
A)
Q4: When individuals come together to buy and
Q5: The market for General Motors' bonds
A) exists
Q6: The term quantity demanded
A) can refer to
Q7: When households and businesses interact in product
Q8: A group of buyers and sellers with
Q9: When households and businesses interact in product
Q10: The law of demand says that as
Q11: The amount of a commodity that buyers
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