6. The interaction of individual choices Immediately after an ice storm brought

Question

6. The interaction of individual choices Immediately after an ice storm brought down power lines throughout the region, hardware stores were sold out of batteries and flashlights. However, within a couple of days, special deliveries brought in extra batteries and flashlights, and everyone who wanted to buy a flashlight or batteries was able to do so. Which of the following principles of economic interaction best describes this scenario? Which allocate goods effectively. There are gains from trade. All costs are opportunity costs. When markets do not achieve efficiency, government intervention can improve overall welfare.

Explanation / Answer

Answer should be(A) Markets allocate goods effectively

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