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Kharl Michael
on Oct 09, 2024

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The market system's answer to the fundamental question "What will be produced?" is essentially:

A) "Goods and services that are profitable."
B) "Low-cost goods and services."
C) "Goods and services that can be produced using large amounts of capital."
D) "Goods and services that possess lasting value."

Market System

An economic system in which economic decisions and the pricing of goods and services are guided by the interactions of citizens and businesses.

Goods and Services

The output produced by an economy, including tangible products (goods) and intangible activities (services) that fulfill the needs or wants of consumers.

Profitable

A financial status where the income earned is greater than the expenses incurred, leading to a positive net income.

  • Comprehend how output distribution is determined within a market economy.
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Christian OliveraOct 11, 2024
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