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ECON 208 FINAL-McGill Questions and answers latest update
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39

april 2026

2025/2026

A+
Efficiency - CORRECT ANSWER--The order produced by all these selfish decisions is efficient -all the good/services people want and have the means to purchase are produced with the least possible amount of our scarce resources Characteristics of the "Market" economy - CORRECT ANSWER-1. Self-interest 2. Incentives: People in the economy respond to incentives 3. Market price and Quantity: determined by buyers and sellers, though not directly or officially 4. Institutions: These activi...
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