A major function of the price mechanism is that it determ...
A major function of the price mechanism is that it determines the
Allocation of resources
Amount of national savings
Population of the country
Number of goods to be taxed
Correct answer is A
The price mechanism is a mechanism where price plays a key role in directing the activities of producers, consumers, resource suppliers. It aids in resource allocation, as both the buyer and seller can decide on what product to produce and what to buy.
The concentration of industries in a particular geographical area is ...
The demand for beans in bags is given by the function Q - 36 + 0.4P = 0. Where P is price in nair...
If government fixes price below the equilibrium price, what effect will it have on demand? ...
The function of money as a standard of deferred payment ...
One of the functions of commercial banks is ...
A demand curve parallel to the Y-axis indicates ...