Question

explain the importance of market and prices in the capitalist economy

Answer 1

Answer:

In a capitalist economy, the prices of all goods and services will be decided by the market forces exclusively, i.e. the demand and supply of goods. ... The resources are limited so the quantity will depend on the preferences and requirements of the society and the relative prices of the product.

ʜᴇʀᴇ ɪs ᴜʀ ᴀɴsᴡᴇʀ ʜᴏᴘᴇ ɪᴛ ᴡɪʟʟ ʜᴇʟᴘ ᴜ

Answer 2

Answer:

In a capitalist economy, the prices of all goods and services will be decided by the market forces exclusively, i.e. the demand and supply of goods. ... The resources are limited so the quantity will depend on the preferences and requirements of the society and the relative prices of the product.

Explanation:

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