Why is the price constantly increasing in a market economy?
| November 24, 2020 | education
Market is economic relations associated with the sale and purchase of goods and services, in which demand, supply and price are formed.
A market economy is characterized by free formation of prices (pricing). Prices are set by the market based on the ratio of supply and demand (Demand increases – prices decrease; demand decreases – price increases) or (Supply increases, price increases; Supply decreases, price decreases).
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