Economy, asked by sajuagil, 10 months ago

analyse the function of price mechanism

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Answered by jinnapupavankumar

Answer:

Main Functions of the Price Mechanism 1. Allocate – allocating scarce resources among competing uses 2. Rationing – prices serve to ration scarce resources when market demand outstrips supply 3. Signalling – prices adjust to demonstrate where resources are required, and where they are not 4

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