One of the most useful characteristics of a market economy is that price changes signal changes in

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One of the most useful characteristics of a market economy is that price changes signal changes in the relative scarcity of different products and resources and encourage people to respond to those changes. Can you think of any ways that labor markets, by setting salaries based on comparable worth, can do the same thing without having math teachers receiving higher salaries than English teachers?

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Fundamentals Of Economics

ISBN: 9780618992676

4th Edition

Authors: William Boyes , Michael Melvin

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