Do you think that all economies in the world are the same? Why or why not?

What is the difference between the public sector and the private sector?

WHO DECIDES THE PRICE OF THE PRODUCT?

From the picture below:

1.What will the producer do?

2.What will the consumer do?

3.Explain the price mechanism.

The signalling function - changes in price provides information to both producers and consumers about changes in market conditions Coho farmers Consider the price studs in this example "Cotton famters hi hard as prices dropto lowest since W (Dcccrriur 2014) Plentiful global supplies of cotton thanks to favourable weather have caused cotton prices to fall to a 5 year low. China's farmers beneted from a SSbn scheme which ran from 2011-14 where the government purchased cotton at a minimum price, building up a huge stockpile China's reserves have risen six-fold since 2010 and it holds 60% of the world's cotton inventories The slump in prices is being badly felt by growers in the southern African country Zambia whose cotton industry [employs a fifth of the population