Question
How does voluntary trade impact a consumer’s purchasing power?
7 points
A. It decreases purchasing power by raising prices
B. It allows consumers to buy less with their money
C. It increases purchasing power by making goods more affordable
D. It has no effect on purchasing power
7 points
A. It decreases purchasing power by raising prices
B. It allows consumers to buy less with their money
C. It increases purchasing power by making goods more affordable
D. It has no effect on purchasing power
Answers
GPT-4o mini
C. It increases purchasing power by making goods more affordable
Voluntary trade typically allows consumers to access a wider variety of goods and services at competitive prices, which can enhance their purchasing power. By improving efficiency and fostering specialization, trade can lead to lower costs for goods and services, thereby making them more affordable for consumers.
Voluntary trade typically allows consumers to access a wider variety of goods and services at competitive prices, which can enhance their purchasing power. By improving efficiency and fostering specialization, trade can lead to lower costs for goods and services, thereby making them more affordable for consumers.