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1 It determines the allocation of scarce resources 2 It induce supply to respond to change in demand 3 It ration out scarce product 4 It indicate change in want 5 It is in use in the production of good and service 6 It determines the reward factors of production
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Explain the functions of the price system in the economy?
functions and roles of price in our economy in tanzania
What are the Functions of economic system?
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
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.
What is demand for a factor?
Demand for a factor is the demand for a particular thing. Demand changes as per demand functions There are basically five demand functions as follows 1. Price 2. Income 3. Price Of substitute goods 4. Price of complementary goods 5. Taste & Preference
How does the price system respond to surpluses and shortages?
How does the price system respond to surpluses and shortages? In: Economics [Edit categories]
Explain the functions of the price system in the economy?
functions and roles of price in our economy in tanzania
What drugs speed up the body's functions?
the drug that speed up body functions is 5 hour energy! It works great cheap price too! :)
What are the functions of microcomputer operating system?
What are the functions of microcomputer operating system?
Functions of an operating system?
allocates system resources controls basic "input and output" manages storage space
What are the basic functions of a network operating system?
basic functions of a network operating system?
Functions of a typical database management system?
Functions of a typical database management system?
4 functions of the muscular system?
what are five main functions that are important that the muscular system does?
Which system does not work with the immune system to regulate internal body functions?
The digestive system does not work with the immune system to regulate body functions.
Which body sytems does not work with the immune system to regulate internal body functions?
The digestive system does not work with the immune system to regulate body functions.
Which body system does not work with the immune system to regulate internal body functions.?
The digestive system does not work with the immune system to regulate body functions.
Which body system does not work with immune system to regulate internal body functions?
The digestive system does not work with the immune system to regulate body functions.
Functions of each layer in C7 signaling system?
functions of each layer in C7 signaling system
