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pratima kumari

· started a discussion

· 1 Months ago

price mechanism (Question: 193848.0 )

price mechanism is a feature of mixed economy...and price is determined by demand and supply in capitalist economy

Question:
Price Mechanism is a feature of – 
Options:
A) Capitalist economy
B) Barter economy
C) Mixed Economy
D) Socialist Economy
Solution:
Ans: (a) Price Mechanism is an economic term that refers to the manner in which the prices of commodities affect the demand  and supply of goods and services. It is 

essentially a feature of market-driven or capitalist economic systems. It is based on the principle that only by allowing prices to move freely will the supply of any given commodity match demand. 

Knowledge Expert

· commented

· 1 Months ago

Dear Student,
Its feature of Capitalist economy.
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