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What type of economy best fits this description The price consumers pay is set by the government.?
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∙ 7y ago
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Jarred Krajcik
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In this type of economy the price consumers pay is set by the government?
67
The Price consumers pay is set by the government?
controlled
How does the government inform and protect consumers?
the government can reduce the taxes on the commodities, it can also use price control that is price cealing
In a market economy a high price will usually cause?
producers to supply more and consumers to buy less.
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.
In this type of economy the price consumers pay is set by the government?
67
What is the consumers price index and what is it used for?
It measures whole price levels in the economy.
The Price consumers pay is set by the government?
controlled
How does the government inform and protect consumers?
the government can reduce the taxes on the commodities, it can also use price control that is price cealing
In a market economy a high price will usually cause?
producers to supply more and consumers to buy less.
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.
How does a price ceiling work?
A price ceiling is a limit that the government puts on items. It is an attempt to prevent consumers from overpaying.
What is the meaning of suppressed inflation?
Existing inflation disguised by government price controls or other interferences in the economy such as government price subsidies.
The consumers price index helps the U.S. government measure what?
inflation
Which is not a feature of a market economy?
The price a consumer pays is set by the government. A+
Which economic system decide what to sell and what price?
If the government is deciding which goods to sell and at what price, it is known as a command economy. If individuals are deciding, it is known as a market economy.
How are goods and services distributed in market economy?
To consumers based on the basis of their ability and willingness to pay the existing market price
