Question

state two advantages of price mechanism?​

Answer 1

Answer:

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Explanation:

The primary advantage of such a method is that conditions are laid out in advance and transactions can proceed with no further permission or authorization from any participant. When any bid and ask pair are compatible, a transaction occurs, in most cases automatically.

Answer 2

Answer:

Two advantages of price mechanisms are:-

➡️1) They encourage the price of products to match market needs. With price mechanisms businesses can't simply adjust their prices to make a profit.

➡️2)Price mechanism is the invisible hand of price described by Adam Smith. It is able to signal the cost of purchasing a good to the consumer and signal to the producer the revenue that they will receive from the good.

Explanation:

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