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MMLU / In the last 20 years firms that produce cameras have begun to produce fewer…

Problem

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question

In the last 20 years firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras. This trend is an example of

choices

  1. how central planners dictate which cameras are produced.
  2. the market system answering the question of "how" cameras should be produced.
  3. the market system answering the question of "what" cameras should be produced.
  4. the market system answering the question of "who" should consume the cameras that are produced.

subject

high_school_macroeconomics

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Official source

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