In most societies, resources are allocated by

Question

a. a small number of central planners.
b. the combined actions of millions of households and firms.
c. a single central planner.
d. those firms that use resources to provide goods and services

Answer 1

In most societies, resources are allocated by b. the combined actions of millions of households and firms.

This reflects the principles of a market economy, where decisions regarding the allocation of resources are made through decentralized interactions between consumers and producers.