Under a laissez-faire system,
a. government organizes production and distribution of goods.
b. a small bureaucracy of central planners tells firms what to produce and how to produce it.
c. costs of production and consumers' demands determine the output mix.
d. firms try to produce the goods that they think are good for consumers.
c
Economics
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If it is impossible or very costly to exclude nonpaying customers from receiving a good, the good is considered to be
a. freeware. b. nonexcludable. c. a common good. d. a receiving good.
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Our balance on current account
A. has recently turned negative. B. has been negative for years. C. has recently turned positive. D. has been positive for years.
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