"For whom is a given mix of goods and services to be produced? How, in other words, are the society's outputs to be distributed among its members?" In a market economy, this question is resolved primarily in the : public sector through the mechanism of central planning. private sector through the earning and spending of income. business sector through the mechanism of advertising. money market through borrowing and saving by households and businesses.

"For whom is a given mix of goods and services to be produced? How, in other words, are the society's outputs to be distributed among its members?" In a market economy, this question is resolved primarily in the : public sector through the mechanism of central planning. private sector through the earning and spending of income. business sector through the mechanism of advertising. money market through borrowing and saving by households and businesses.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter3: The Fundamental Economic Problem: Scarcity And Choice

Section: Chapter Questions

Problem 4DQ

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