Free market-price system determines how societys output

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1. In perform Russia and perform China:

A. both consumer and capital goods outputs were determined by central planning.

B. both consumer and capital goods outputs were determined by the market.

C. capital goods output was determined by planning, but consumer goods output was determined by the market.

D. consumer goods output was determined by planning, but capital goods output was determined by the market.

2. In a free market, the price system determines how society's output will be distributed by:

A. ensuring that low income people can buy all of the necessities for living.

B. providing goods for those willing and able to pay the equilibrium price.

C. ensuring that each commodity is produced by the most efficient technique.

D. allowing all those who desire a commodity to buy it.

Reference no: EM131253409

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