Prices are important in market economies because 1 point a) they ensure that people receive what...
Prices are important in market economies because
1 point
a) they ensure that people receive what they deserve.
b) they provide direction for economic activities.
c) government can easily set them at a level which ensures fair incomes.
d) firms can easily set them at a level which ensures profits.
e) they ensure a just distribution of goods.
Homework Answers
Ans.- (B)
Price provide direction for economic activities.
Producers can know what they have to produce at the current price and consumers can know what they have to purchase at the current price.
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