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Market Price and Resource Allocation Quiz

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Market Price and Resource Allocation Quiz

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Questions and Answers

What determines the allocation of a scarce resource in a market?

The resource owners' social status

The government regulations

The people who are willing to pay the market price (correct)

The resource owners' personal preferences

How are most scarce resources allocated in markets?

By the resource owners' connections

By the resource owners' social media presence

By the market price (correct)

By the resource owners' political influence

In which manner do people sell their labor services and buy most of what they consume?

Via government distribution programs

In markets (correct)

Through community sharing initiatives

Through barter systems

Market Price and Resource Allocation Quiz

Choose a study mode

Podcast

Questions and Answers

What determines the allocation of a scarce resource in a market?

How are most scarce resources allocated in markets?

In which manner do people sell their labor services and buy most of what they consume?

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