Question

explain administrative price mechanism ????​

Answer 1

Answer:

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Explanation:

An administered price is the price of a good or service as dictated by a government or centralized authority, as opposed to market forces of supply and demand. Administered pricing has appeared in communist regimes such as the Soviet Union, and is discredited by many economists as being inefficient and unsustainable

Answer 2

Answer:

An administered price is the price of a good or service as dictated by a government or centralized authority, as opposed to market forces of supply and demand. Administered pricing has appeared in communist regimes such as the Soviet Union, and is discredited by many economists as being inefficient and unsustainable.