The is "Price mechanism" To explain - In a free market price is determined by free-market forces (Generally price is that force).of demand and supply. Which makes the companies (producers) plan what, how, and for whom they should produce.
The is “Price mechanism”
To explain – In a free market price is determined by free-market forces (Generally price is that force).of demand and supply. Which makes the companies (producers) plan what, how, and for whom they should produce.
A production possibility frontier indicates the maximum limit or frontier of different possible combinations of two goods. That can be produced with available resources and technology.
A production possibility frontier indicates the maximum limit or frontier of different possible combinations of two goods. That can be produced with available resources and technology.
How are central problems solved in the free market economy?
The is "Price mechanism" To explain - In a free market price is determined by free-market forces (Generally price is that force).of demand and supply. Which makes the companies (producers) plan what, how, and for whom they should produce.
The is “Price mechanism”
See lessTo explain – In a free market price is determined by free-market forces (Generally price is that force).of demand and supply. Which makes the companies (producers) plan what, how, and for whom they should produce.
Is there anyone who found the answer for the question – What is a production possibility frontier?
A production possibility frontier indicates the maximum limit or frontier of different possible combinations of two goods. That can be produced with available resources and technology.
A production possibility frontier indicates the maximum limit or frontier of different possible combinations of two goods. That can be produced with available resources and technology.
See lessDoes economic problem arise due to plenty of resources?
Plenty of resources and scarcity of resources could be some of the reasons.
Plenty of resources and scarcity of resources could be some of the reasons.
See less