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Price Mechanism
Price mechanism is the point, which equilibrates supply and demand within a market. It is a mechanism of pricing. The price mechanism is one, which permits the prices of goods and services to be determined by the interplay between supply and demand. There is no centralized price fixing. The price mechanism is the concept that the free market, when left to its own devices, will invent fair prices of the goods or services on its own by the natural laws of supply and demand.
What is the difference between an economic luxury and an economic necessity? Ans) An economic luxury is wasting land on pools huge garden, etc. An economic requirement is what y
While referring to the "EYE on YOUR LIFE" section on, discuss the macroeconomic policy issues facing the U.S. economy today based on the economic concepts you have learned in this
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economic issues
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