An economic system is A) the universe of all resources. B) a ...

[Evvie72]

An economic system is
 
  A) the universe of all resources.
  B) a way to create new resources.
  C) a mechanism to allocate scarce resources.
  D) an organization that generates profits.

Question 2

Market failures
 
  A) prevent the price system from attaining economic efficiency.
  B) result in quantities and prices that are socially desirable.
  C) strengthen economic efficiency by forcing unprofitable firms to close.
  D) weaken the argument for government intervention in the economy.

[atrochim]

Answer to Question 1

C

Answer to Question 2

A

[Evvie72]

TYSM

[mcabuhat]

YES! Correct, THANKS for helping me on my review