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Explain the functions of the price system in the economy?

functions and roles of price in our economy in tanzania


What are the functions of the service sector of economy?

what are the function of the service sector of the economy


What economic systems is a mixed economy a combination if?

where the functions of both capitalism and socialism are present,that is called mixed economy.


What is north Korea economy based on?

The North Korean economy is based on the sale of manufactured goods to the country of China. The North Korean economy also functions on the consumption of its own people.


What do you know by bank .explain functions and importance of bank?

A Bank is an institution that serves as the financial intermediary in the economy. They are responsible for cash flow within the nation's economy. Their main functions include:Accepting DepositsLending LoansProviding Bank AccountsProviding Credit Cardsetc.


How does the market economy function?

Market economy functions under the price mechanism. Prices of goods and serviced are determined by the interaction of demand and supply forces.


What is the noun form of the word economy?

The word 'economy' is a noun form, a word for the wealth and resources of a country or region; a word for careful use of money and goods; a word for a thing.The word 'economy' also functions as an adjective, used to describe a noun (an economy car; an economy package).


What is money and what functions does it serve in the economy?

Money is a medium of exchange that is widely accepted in transactions. It serves as a unit of account, a store of value, and a standard of deferred payment in the economy.


What are the functions of tourism?

Tourism functions as an economy builder by bringing money into the area. Tourism creates jobs that provide employment opportunities. It also gives people the opportunity to enjoy other countries.


What are the function of banks?

A Bank is an institution that serves as the financial intermediary in the economy. They are responsible for cash flow within the nation's economy. Their main functions include:Accepting DepositsLending LoansProviding Bank AccountsProviding Credit Cardsetc.


What is the Significance of a bank?

A Bank is an institution that serves as the financial intermediary in the economy. They are responsible for cash flow within the nation's economy. Their main functions include:Accepting DepositsLending LoansProviding Bank AccountsProviding Credit Cardsetc.


What are the key functions of the state?

The key functions of the state include maintaining law and order, providing public services such as education and healthcare, regulating the economy, and representing the interests of its citizens both domestically and internationally.