The price system helps agents allocate resources to satisfy human wants in the m

Question

The price system helps agents allocate resources to satisfy human wants in the most efficient way possible. Prices incorporate information about each of the following EXCEPT:

Each of these is likely to occur in a competitive free market economy EXCEPT:

e price system helps agents allocate resources to satisfy human wants in the most efficient way possible. Prices incorporate information about each of the following EXCEPT: O O O O future market conditions. how much every individual values a good the most efficient use of resources the number of firms in a competitive market. Each of these is likely to occur in a competitive free market economy EXCEPT: O o Firms competing by adjusting their prices. Suppliers increasing production in response to increased prices Some firms exiting the market because they are unable to compete Firms unable to adapt or innovate continuing to operate due to government support.

Explanation / Answer

Answer of the first question : the number of firms in a competitive market.

Answer of the second question : Firms unable to adapt or innovate continuing to operate due to government support.

Explanation : In a free market economy the price and quantity are determined by the market forces.

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