Question

What prompts efficient resource allocation in a well-functioning market system?


the need for fair allocation of resources


government regulation


businesses operating for a profit


the need to buy goods regardless of price

Answer 1

Answer:

C)businesses operating for a profit

Explanation:

Since markets tend toward equilibrium, a change will set market forces in motion that lead the market to a new equilibrium price and quantity sold. (a) lower market price and a higher quantity sold. ... (d) Price changes prevent inflation or deflation from affecting the supply of goods.