1. 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.

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  2. 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.

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  3. 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.

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