Asked by Amber Lloyd on Jul 05, 2024
Verified
From society's point of view, the economic function of profits and losses is to
A) promote the equal distribution of real assets and wealth.
B) achieve full employment and price level stability.
C) contribute to a more equal distribution of income.
D) reallocate resources from less-desired to more-desired uses.
Society's View
The collective opinions, attitudes, and values of a community or population towards various issues, concepts, or entities.
Economic Function
The role or impact that an entity or process has within the economy, such as production, distribution, and consumption of goods and services.
Profits and Losses
The financial gain or loss that a business experiences, calculated as the difference between revenue and expenses.
- Understand the role of profits and losses in indicating the need for reallocating resources in the economy.
Verified Answer
Learning Objectives
- Understand the role of profits and losses in indicating the need for reallocating resources in the economy.
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