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What is the role of prices in allocating resources in a market economy?
Wiki User
∙ 13y ago
This is from P.47 . right ?
Wiki User
∙ 13y ago
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In a market economy income is primarily determined by?
the quantities and prices of the resources that households supply.
In a market economy the distribution of output will be determined primarily by?
the quantities and prices of the resources that households supply.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
How are good and resources distributed in a free market economy?
Through prices
In a market economy income is primarily determined by?
the quantities and prices of the resources that households supply.
In a market economy the distribution of output will be determined primarily by?
the quantities and prices of the resources that households supply.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Which of the terms describes an economy in which prices form the basis for economic decisions?
market or market economy
Prices in a market economy determine?
Prices in a market economy help determine the equilibrium. Consumers will not pay a price higher than its perceived value.
Is England an planned economy?
No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
What was the cause of the stock market crash?
Economy prices
Prices in a market economy are based on?
The prices in a market economy are based on supply and demand. In a free price system, these are based on several factors like citizen interactions and observations.
