The decision about what goods and services will be produced in a market economy is made by
A) lawmakers in the government voting on what will be produced.
B) workers deciding to produce only what the boss says must be produced.
C) producers deciding what society wants most.
D) consumers and firms choosing which goods and services to buy or produce.
E) consumers dictating to firms what they need most.
Answer: D
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The current exchange rate system in Canada is best described as a
A) silver standard. B) floating exchange rate system. C) fixed exchange rate system. D) gold standard.
Hogrocket, which developed the Tiny Invaders game for the iPhone, found that to maintain sales in a profitable competitive market, the price of a product
A) will usually rise. B) will usually remain stable. C) will eventually fall to zero. D) will usually fall.