In market economy a high price is a signal for Group of answer choicesproducers to supply less and consumers to buy more producers to supply less and consumers to buy lessgovernment to intervene to protect consumersproducers to supply more and consumers to buy less

Question

Business

Yadiel Middleton

29 July, 08:48

In market economy a high price is a signal for Group of answer choicesproducers to supply less and consumers to buy more producers to supply less and consumers to buy lessgovernment to intervene to protect consumersproducers to supply more and consumers to buy less

+4

Answers (1)

Know the Answer?

Aidyn · Answer 1

producers to supply more and consumers to buy less

Explanation:

In market economy a high price is a signal for consumers producers to supply more and consumers to buy less.

Since a market economy allows the free interplay of supply and demand, it ensures that the most desired goods and services are produced.

Since the market allows the free interplay of supply and demand, then the law of demand holds that 'consumers are willing to buy more at a lower price and suppliers are willing to supply more at a higher price.