Asked by
arman mahrough
on Nov 25, 2024Verified
The distribution of income in a market system is a primary factor that resolves which of the following fundamental economic questions?
A) What will be produced?
B) How will the output be produced?
C) How will the system accommodate change?
D) Who will get the output?
Distribution Of Income
The way in which total income is shared among different individuals or groups in an economy.
Market System
Here, economic decisions about where to invest, what and how much to produce, and how to distribute goods are made based on supply and demand curves, with pricing for these goods and services being freely adjusted in a market-based pricing structure.
Economic Questions
Fundamental queries regarding what to produce, how to produce, and for whom to produce, which economies must address.
- Perceive the effect of consumer income levels on the demand in the marketplace and the allocation of products.
Verified Answer
AJ
Learning Objectives
- Perceive the effect of consumer income levels on the demand in the marketplace and the allocation of products.