The market system's answer to the fundamental question "How will the system accommodate change?" is essentially:
A. "Through government leadership and direction."
B. "Through the guiding function of prices and the incentive function of profits."
C. "Through training and retraining programs."
D. "Through trial and error."
Answer: B
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The proportion of Southern farms relying on slaves rose between 1840 and 1860 . Plus, the scale economies of slavery aggravated the chronic shortage of good Southern farmland
Indicate whether the statement is true or false
Price discrimination:
A. is more successful if resale of the product is possible from one consumer to another. B. can be a successful strategy for any firm in a competitive market C. tends to decrease the profits of the firm. D. can benefit consumers with a lower willingness to pay when compared to other consumers in the market