Asked by
Daisy Mendoza
on Nov 17, 2024
Verified
Prices allocate a market economy's scarce resources.
Prices
The amount of money required to purchase goods or services, typically set by supply and demand dynamics in the market.
Scarce Resources
Refers to the limited availability of resources that are used for the production of goods and services.
- Understand how markets allocate resources effectively.
Verified Answer
JF
Learning Objectives
- Understand how markets allocate resources effectively.