Question
a market economy, prices are established by
Responses
A consumers and labor unions.consumers and labor unions.
B decree of government agencies.decree of government agencies.
C the interaction of supply and demand.the interaction of supply and demand.
D businesses which buy and sell the products.
Responses
A consumers and labor unions.consumers and labor unions.
B decree of government agencies.decree of government agencies.
C the interaction of supply and demand.the interaction of supply and demand.
D businesses which buy and sell the products.
Answers
GPT-4o mini
In a market economy, prices are established by:
**C the interaction of supply and demand.**
This option reflects the fundamental principle of market economies, where prices fluctuate based on the availability of goods (supply) and the desire for those goods (demand).
**C the interaction of supply and demand.**
This option reflects the fundamental principle of market economies, where prices fluctuate based on the availability of goods (supply) and the desire for those goods (demand).