0
Will consumerism drive down prices as the free market system indicates?
Wiki User
∙ 14y ago
No The market is not free
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
What is the main form of communication in a free market system?
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.
How does the price system in a free market economy react to shortage of commodity?
Higher prices
What does mixed capitalism means?
A market system where there is a mix between free market (without regulation and laws, prices are determined by the market forces) and controlled market( with government restrictions).
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
What explains the factor responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
What is the main form of communication in a free market system?
prices
What factors are responisble for setting prices in a free-market eystem?
Supply relative to demand is primarily responsible for setting prices in a free market system.
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.
How does the price system in a free market economy react to shortage of commodity?
Higher prices
What does mixed capitalism means?
A market system where there is a mix between free market (without regulation and laws, prices are determined by the market forces) and controlled market( with government restrictions).
Why does relative scarcity determine the level of prices in a free-market system?
The relative scarcity of a product affects the pricing in a free market system since surplus of a product leads to low prices. A reduction in supply will lead to high prices of a product because people may be willing to pay more to have it.
Which economic system has relative prices change to reflect changes in supply and demand for different commodities is known as a?
Price or market system
Why is the price system so important to a free market economy?
The price system is so important to the free market economy because the price system allows a company to compete within the market by setting a price that is fair for consumers and the provider. A fixed price system causes the market to fail if prices of supplies rise.
Free market and its implications?
A free market is an economic system where the government is not involved and prices are set by private business owners. The main implication is the fact that consumers are not protected and are therefore abused through exorbitant prices.
What are the five features of your market economy?
There are five features that describe market economy. They are freedom of choice, motive of self-interest, competition, system of market and prices and limited government.
