Practicing Success
In a market Economy, prices are determined by : |
The Government Demand of goods Supply of goods Demand and supply of goods |
Demand and supply of goods |
The correct answer is Demand and supply of goods.
In a market economy, the prices of goods and services are determined by the interaction of demand and supply. Demand is the quantity of a good or service that consumers are willing and able to purchase at a given price. Supply is the quantity of a good or service that producers are willing and able to sell at a given price. |