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What explains the factor responsible for setting prices in a free market system?

Updated: 8/20/2022

Wiki User

∙ 9y ago

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"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.

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Q: What explains the factor responsible for setting prices in a free market system?

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Related questions

What factors are responsible for setting prices in a free market system?

"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.

Which of the following explains the factors responsible for setting prices in a market free system?

Supply relative to demand.government

What factors are responisble for setting prices in a free-market eystem?

Supply relative to demand is primarily responsible for setting prices in a free market system.

What sets prices in a perfect market?

market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .

Which statement explains why prices rise in a market?

There is excess demand in the market.?

Example of factor market?

An example of factor market is the automobile market. This is a market that exists as a result of demand for something that consumers use.

What is the difference between factor and product market?

The difference between a factor market and a product market is that a factor market is a market where productive resources are bought and sold, while a product market is a market where products offer goods and services for sale.I copied this out of my econ book =)

Which of the following best explains what market forces are?

the properties of a free-market system that determine what the outcomes will be

What best explains what market forces are?

The properties of a free-market system that determine what the outcomes will be. (apex)

Explains why producers conduct market research?

Market research helps producers earn more profits.

What is an example of a factor market?

Labor Market

Best explains why producers conduct market research?

Market research helps producers earn more profits.

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