Asked by Nimisha Shivaprasad on Jul 20, 2024
Verified
The price system is based on the law of _________________.
Price System
A mechanism through which prices are determined for goods and services in an economy, guiding and coordinating economic actions by conveying information about relative market values and scarce resources.
- Understand the importance of price structures, capital investment, and private ownership in economic progress.
Verified Answer
DI
Learning Objectives
- Understand the importance of price structures, capital investment, and private ownership in economic progress.