When all the conditions for perfect competition are met,

A) resources are allocated among firms efficiently.
B) final products are distributed among households efficiently.
C) the system produces the goods and services consumers want.
D) All of the above are correct.

Perfect Competition

A market structure characterized by an infinite number of buyers and sellers, homogeneous products, perfect information, and no barriers to entry or exit.

Resources Allocation

The process of assigning available resources among various uses in an economy or organization to maximize the efficiency of those resources.

Firms Efficiency

The degree to which a company utilizes its resources effectively to produce goods and services and maximize profit.