Asked by
samuel jijon
on Dec 11, 2024Verified
Which of the following is not a function of prices in a market system?
A) Prices have the crucial job of balancing supply and demand.
B) Prices send signals to buyers and sellers to help them make rational economic decisions.
C) Prices coordinate economic activity.
D) Prices ensure an equitable distribution of goods and services among consumers.
Equitable Distribution
A legal principle used in family law to fairly divide property and assets between partners during a divorce.
Functions of Prices
The role prices play in indicating the scarcity of goods and allocating resources in an economy.
Market System
An economic system whereby decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
- Understand the functions of prices in a market system.
Verified Answer
AS
Learning Objectives
- Understand the functions of prices in a market system.