What determines the number and prices of goods and services that will be

available to consumers in a market economy?

O

A. The law of marginal utility

B. The law of externality

O

C. The law of diminishing returns

O

D. The law of supply and demand

Question

Maren Morgan

Business

19 January, 03:05

What determines the number and prices of goods and services that will be

available to consumers in a market economy?

O

A. The law of marginal utility

B. The law of externality

O

C. The law of diminishing returns

O

D. The law of supply and demand

+2

Answers (2)

Know the Answer?

Belinda Rosales · Answer 1

D. The law of supply and demand

Explanation:

A market economy is an economy that exists in a perfect market. The economy is controlled by the forces of demand and supply. This means that no party controls or determines the price nor the quantity in the market, but the law of demand and supply.

Leonard Moore · Answer 2

D. The law of demand and supply

Explanation:

The law of supply states that all things being equal the higher the price the higher the quantity of a commodity that will be supplied. The law states that when the price of a commodity is high in the market, more of it will be made available to consumers and vice versa

What determines the number and prices of goods and services that will beavailable to consumers in a market economy?OA. The law of marginal utilityB. The law of externalityOC. The law of diminishing returnsOD. The law of supply and demand

What determines the number and prices of goods and services that will be

available to consumers in a market economy?

O

A. The law of marginal utility

B. The law of externality

O

C. The law of diminishing returns

O

D. The law of supply and demand