Question

Multiple Choice Question Which of the following refers to the practices in a market economy? O The particular goods and services offered are determined by the theoretical advancement of society. O Management of an organization ignores demographic information. O Competition is intensely promoted to foster innovation, economic growth, high quality, and efficiency. O Businesses ensure that investments are in the best interest of the nation.

          Multiple Choice Question
Which of the following refers to the practices in a market economy?
O The particular goods and services offered are determined by the theoretical advancement of society.
O Management of an organization ignores demographic information.
O Competition is intensely promoted to foster innovation, economic growth, high quality, and efficiency.
O Businesses ensure that investments are in the best interest of the nation.
        
Show more…
Multiple Choice Question
Which of the following refers to the practices in a market economy?
O The particular goods and services offered are determined by the theoretical advancement of society.
O Management of an organization ignores demographic information.
O Competition is intensely promoted to foster innovation, economic growth, high quality, and efficiency.
O Businesses ensure that investments are in the best interest of the nation.

Added by Jennifer B.

Close

Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
AceChat toggle button
Close icon
Ace pointing down

Please give Ace some feedback

Your feedback will help us improve your experience

Thumb up icon Thumb down icon
Thanks for your feedback!
Profile picture
Multiple Choice Question Which of the following refers to the practices in a market economy? The particular goods and services offered are determined by the theoretical advancement of society. Management of an organization ignores demographic information. Competition is intensely promoted to foster innovation, economic growth, high quality, and efficiency. Businesses ensure that investments are in the best interest of the nation. Multiple Choice Question Which of the following refers to the practices in a market economy? O The particular goods and services offered are determined by the theoretical advancement of society. O Management of an organization ignores demographic information. O Competition is intensely promoted to foster innovation, economic growth, high quality, and efficiency. O Businesses ensure that investments are in the best interest of the nation.
Close icon
Play audio
Feedback
Powered by NumerAI
Jennifer Stoner Ivan Kochetkov
Kathleen Carty verified

Jennifer Stoner and 76 other subject Microeconomics educators are ready to help you.

Ask a new question

*

Labs

-

Want to see this concept in action?

NEW

Explore this concept interactively to see how it behaves as you change inputs.

View Labs

*

Key Concepts

-
Key Concept
Premium Feature
Explore the core concept behind this problem.
Play button
Key Concept
Premium Feature
Explore the core concept behind this problem.
Your browser does not support the video tag.

*

Recommended Videos

-
l-a-situation-in-which-a-market-does-not-coordinate-choices-in-a-way-that-achieves-efficient-use-of-resources-is-called-a-a-market-failure-b-a-negative-externality-c-a-transaction-cost-d-a-p-79265

Jennifer S.

which-one-of-the-following-statements-is-false-a-economic-research-suggests-that-having-more-options-to-choose-from-doesnt-always-result-in-people-making-better-consumer-decisions-b-economic-research-

Which one of the following statements is false? a) Economic research suggests that having more options to choose from doesn’t always result in people making better consumer decisions. b) Economic research indicates that there may be significant differences between predicted and remembered utility. c) The standard model of consumer behavior accurately explains why people make particular consumer decisions. d) A consumer society is one in which people’s identity is found largely through the purchase and use of consumer goods and services. e) Economists have traditionally defined a consumer’s problem as how to maximize utility given his or her income constraints.

Dave K.

question-2-which-of-the-following-describes-the-fundamental-reason-why-incentives-matter-in-economic-a-incentives-are-a-precise-way-to-measure-the-reward-of-certain-economic-activities-b-understanding

Nick J.


*

Recommended Textbooks

-
Principles of Economics

Principles of Economics

Gregory Mankiw 8th Edition
achievement 1,883 solutions
Principles of Microeconomics for AP® Courses

Principles of Microeconomics for AP® Courses

Steven A. Greenlaw, David Shapiro, Timothy Taylor 2nd Edition
achievement 1,056 solutions
Economics

Economics

Michael Parkin 12th Edition
achievement 1,061 solutions

*

Transcript

-
00:01 Here we have a couple of questions we're answering.
00:04 The first one, a situation in which the market does not coordinate choices in a way that achieves efficient use of resources is known as a market failure.
00:22 A market failure is when a market does not allocate resources on its own, on its own efficiently in a way that balances social costs and benefits.
01:15 Externalities are an example of a market failure.
01:22 Exclusion and rivalry are features of private goods.
01:45 As private goods are the goods that are subject to consumption, rivalry but can easily exclude non -payers...
Need help? Use Ace
Ace is your personal tutor. It breaks down any question with clear steps so you can learn.
Start Using Ace
Ace is your personal tutor for learning
Step-by-step explanations
Instant summaries
Summarize YouTube videos
Understand textbook images or PDFs
Study tools like quizzes and flashcards
Listen to your notes as a podcast
Continue solving this problem
Create a free account to:
  • View full step-by-step solution
  • Ask follow-up questions with Ace AI
  • Save progress and study later
Continue Free
Numerade

Get step-by-step video solution
from top educators

Continue with Clever
or



By creating an account, you agree to the Terms of Service and Privacy Policy
Already have an account? Log In

A free answer
just for you

Watch the video solution with this free unlock.

Numerade

Log in to watch this video
...and 100,000,000 more!


EMAIL

PASSWORD

OR
Continue with Clever