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What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What determines prices in capitalist systems?
The price someone is willing to pay - in other words, the market.
How does market and government differ in allocation of resources?
the difference in market and government occurs in the allocation of resources and labor division which determines the prices
What is the principle idea that the invisible hand of competition sets prices and determines quantities produced in a market economy?
Adam Smith
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What determines prices in capitalist systems?
The price someone is willing to pay - in other words, the market.
How does market and government differ in allocation of resources?
the difference in market and government occurs in the allocation of resources and labor division which determines the prices
What determines prices of land labor capital and entrepreneurship in the factor market?
Demand and supply in every market will determine the price differently.
Who determines prices on products in Mexico?
The free market. On very few instances, such as gasoline, the government decrees an established price.
What is the principle idea that the invisible hand of competition sets prices and determines quantities produced in a market economy?
Adam Smith
How does the interaction between supply and demand determine prices in a market?
The interaction between supply and demand in a market determines prices. When demand for a product is high and supply is low, prices tend to increase. Conversely, when supply is high and demand is low, prices tend to decrease. This balance between supply and demand helps establish the market price for a product or service.
What is market driven?
Market driven means the market determines the price. In perfect competitions, the market determines the price of products, not the business.
Who determines prices?
supply and demand
In a market economy who determines the market price?
Compention
A market in which no controls the prices is called?
A market in which no one controls the prices is called
