A. With a large enough computer, central planners could guide production more efficiently than markets.
B. Market participants act as if guided by an invisible hand to produce outcomes that maximize social welfare
C. The strength of a market system is that it tends to distribute resources evenly across consumers.
D. Taxes help prices communicate costs and benefits to producers and consumers.
Correct Answer: Market participants act as if guided by an invisible hand to produce outcomes that maximize social welfare ✔
Last Updated: June 18, 2019