Which of these statements does not apply to market economies?
a. Prices prevent decentralized decision making from degenerating into chaos.
b. Prices coordinate the actions of millions of people with varying abilities and desires.
c. Prices ensure that anyone who wants a product can get it.
d. Prices ensure that what needs to get done does in fact get done.
c
Economics
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Slaves were
(a) unprofitable substitutes for wage labor on plantations. (b) profitable complements to capital equipment. (c) denied the use of shovels, hoes and axes. (d) all of the above.
Economics
Whenever statements embodying values are made, we enter the realm of
A) positive economics. B) normative economics. C) microeconomics. D) macroeconomics.
Economics