The allocation of goods and services in a free market eco...
The allocation of goods and services in a free market economy is performed by
The price system
The banking system
The central planning body
Government budgets
Correct answer is A
In a free market economy, the price mechanism regulates production and labor. Companies sell goods and services at the highest price consumers are willing to pay while workers earn the highest wages companies are willing to pay for their services.
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Economic goods are termed scarce goods when they are ...
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Land is a most significant factor in terms of contribution to the economy because ...
The tax whose rate increases as the level of income increases is known as ...
One of the major advantages of public enterprises is that ...
An efficient weapon used in resolving dispute between employers and employees is ...