QUESTION IMAGE
Question
one advantage of a market economy is its ability to
a limit consumer choices.
b control the price of labor.
c sell goods at a high price.
d adjust to changes over time.
In a market - economy, prices and production levels are determined by supply and demand. This allows it to adapt to changes in consumer preferences, technological advancements, and resource availability over time. Options A, B, and C are not advantages. A market economy generally offers more consumer choices, does not control labor prices in a restrictive way, and selling at high - price is not a general advantage but rather a result of market conditions.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
D. adjust to changes over time