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There are primarily two types of price systems: free market pricing and command pricing. In a free market pricing system, prices are determined by supply and demand dynamics, allowing for flexibility and competition. In contrast, a command pricing system involves government regulation, where prices are set or influenced by authorities to achieve specific economic objectives. Additionally, hybrid systems may exist, combining elements of both approaches.
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What are the different examples of expert support system in types of information system?
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How does the price system respond to surpluses and shortages? In: Economics [Edit categories]
