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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 how a change in prices will affect total revenue for a company?
values of elasticity
What determines prices in the market?
The cost of producing a good or service along with the demand for that good or service.
What determines prices in capitalist systems?
The price someone is willing to pay - in other words, the market.
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 how a change in prices will affect total revenue for a company?
values of elasticity
What determines prices in the market?
The cost of producing a good or service along with the demand for that good or service.
What determines prices in capitalist systems?
The price someone is willing to pay - in other words, the market.
Who determines the prices in your economy?
The Chancellor of the Exchequer or other equivalent financial leader in the government determines tax, and the companies themselves charge as much as they think they can get away with, yet still being competitive.
What is the principle idea that the invisible hand of competition sets prices and determines quantities produced in a market economy?
Adam Smith
Who determines prices on products in Mexico?
The free market. On very few instances, such as gasoline, the government decrees an established price.
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.
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 price leadership by low cost firm?
Price leadership by low cost firm is what results when a firm determines the prices of services and goods within its sector.
