In a market economy, differences in incomes:
a. reflect the relative scarcity of resources
b. provide individuals with an incentive to supply resources that are valued by others.
c. determine the income distribution among market participants.
d. all of the above are correct.
d
Economics
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Ron decided to sell a particular stock when he found out that many other people were selling it. This is an example of ________
A) anchoring B) signaling C) sniping D) herding
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If a competitive firm is losing money then it should:
a. always shut down. b. shut down if its losses are greater than total fixed costs. c. shut down if its total fixed costs are greater than losses. d. raise its price.
Economics