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Author Question: An economic system is A) the universe of all resources. B) a way to create new resources. C) a ... (Read 169 times)

Evvie72

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on: Jun 29, 2018
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.


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atrochim

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


Evvie72

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nathang24

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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