3. According to the textbook, equality means that A. all members of society have the same…

3. According to the textbook, equality means that
A. all members of society have the same income.
B. society is getting the most it can from its scarce
resources.
C. society’s goods and services are distributed according to
need.
D. the benefits of society’s resources are distributed uniformly
among society’s members.
E. A and B, only

Place Order

4. According to the textbook, efficiency means that
A. society is getting the most it can from its scarce
resources.
B. society’s goods and services are distributed according to
need.
C. society is conserving resources in order to save them for the
future.
D. society’s goods and services are distributed fairly among
society’s members.
E. C and D, only

Which of the following statements is (are) correct?
(x) In the market, prices, profit and self-interest guide the
decisions of many firms and households.
(y) Without government’s protection of property rights businesses
would have less incentive to provide goods and services.
(z) One advantage market economies have over central planning is
that market economies are more efficient than centrally planned
economies.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (y) only