In markets, information about the relative value of resources is communicated through:
A)government agencies.
B)planning committees.
C)prices.
D)unions.

Question

In markets, information about the relative value of resources is communicated through:
A)​government agencies.
B)​planning committees.
C)​prices.
D)​unions.

Quizplus · Accepted Answer

Prices communicate information about the relative value of resources in markets. They reflect supply and demand conditions and signal to producers and consumers how to allocate resources efficiently. The other options listed do not play a direct role in communicating this information.

In Markets, Information About the Relative Value of Resources Is