Ask Question
7 December, 22:11

In a market economy, which of the following acts to bring the prices down

+2
Answers (1)
  1. 7 December, 22:13
    0
    Price formation in a market economy is carried out under the influence of many factors. First, the price is determined by the cost of production of goods. Other things being equal, the increase in costs leads to an increase in the price of goods and vice versa. Secondly, the price level is influenced by the correlation between supply and demand. If the goods are offered a lot, and the demand from buyers is low, the price, as a rule, decreases.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In a market economy, which of the following acts to bring the prices down ...” in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers