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One advantage market economies have over centrally-planned economies is that market economy

a. provide an equal distribution of goods and services to households.

b. establish a significant role for the government in the allocation of resources.

c. solve the problem of scarcity.

d. are more efficient

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Elin Hessel
Elin HesselLv2
13 May 2020
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Related questions

Which of the following statements about market economies is correct?
a. Market economies are more efficient than centrally-planned economies.
b. Market economies provide an equal distribution of goods and services.
c. Market economies allow the government to allocate all resources.
d. Market economies solve the problem of scarcity.

The production possibilities frontier model shows that

a) if consumers decide to buy more of a product its price will increase.

b) a market economy is more efficient in producing goods and services than is a centrally planned economy.

c) economic growth can only be achieved by free-market economies

d) if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good.

Which of the following is a problem inherent in centrally planned economies? 
a) households and firms make poor decisions in choosing how resources are allocated
b) there is too little production of low cost, high-quality goods, and services. 
c) production managers are more concerned with satisfying consumer wants than with satisfying government orders
d) exports tend to exceed imports. 

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