Which of the following results from the market system of resource allocation?
a. Equitable distribution of resources
b. High opportunity cost of production
c. Excess supply of goods and services resulting in decreased profits
d. Unequal distribution of income and wealth
e. Allocation of the goods and services to those who need them the most
d
Economics
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Price wars are ________ likely to occur when the industry is ________
A) more; a monopoly. B) more; an oligopoly. C) more; perfect competition. D) equally; monopoly, oligopoly, and perfect competition.
Economics
Moral hazard occurs when an agreement encourages undesirable behavior
Indicate whether the statement is true or false
Economics