Question
Discuss how the market mechanism works in a free market economy and how a shift in the supply and/or demand curve is different from a
Discuss how the market mechanism works in a free market economy and how a shift in the supply and/or demand curve is different from a change in the quantity demanded or supplied. How does the free market mechanism compare to government policy in a command economy?
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In a free market economy the market mechanism refers to the process by which the forces of supply and demand determine the equilibrium price and quantity of a good or service This mechanism operates a...
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
