roseyy8222 roseyy8222

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Social Studies

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In two or three sentences explain the role of prices in the market and include distribution, producers, and consumers

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dumbbeanie dumbbeanie

Today at 9:48 PM

The price of goods plays a crucial role in determining an efficient distribution of resources in a market system. Price acts as a signal for shortages and surpluses which help firms and consumers respond to changing market conditions. ... Rising prices discourage demand, and encourage firms to try and increase supply.

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