In a market economy the distribution of income will be determined primarily by:
A. consumer needs and preferences.
B. the quantities and prices of the resources that households supply.
C. government regulations that provide a minimum income for all.
D. a social consensus as to what distribution of income is most equitable.
Answer:B
In a market economy the distribution of income will be determined primarily by:
A. consumer needs and preferences. B. the quantities and prices of the resources that households supply. C. government regulations that provide a minimum income for all. D. a social consensus as to what distribution of income is most equitable.