Price mechanism functions in the market oriented economy, Microeconomics

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Price mechanism functions in the market oriented economy

Q1. Describe the price mechanism by considering the interaction among the firms and households.

Q2. Describe how are the primary problems solved by the price mechanism?

Q3. Describe how the price mechanism functions in the market oriented economy.

Q4. Describe the different goals which a firm might follow.

Q5. Describe the want and scarcity with appropriate examples.

Q6. Describe the price system as an economic mechanism.

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Microeconomics: Price mechanism functions in the market oriented economy

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